Ripple is going to work with more and more companies. For example, the blockchain company is entering into a partnership with the National Bank of Australia (NAB) in which the bank will use XRP to carry out international transactions.
In addition, the US crypto company also announced a partnership with Lithuanian blockchain research company called ‘Super How?’ in which both companies set up studies on stabelcoins and so-called Central Bank Digital Currencies (CBDC) to give legislators more confidence in these digital assets. Meanwhile, we see a lot on-chain activitythe trading volume is growing explosively up to 2 million XRP per minute.
Ripple and NAB: A Strategic Partnership for Global Impact
The partnership with NAB connects the Ripple network with more than 300 financial institutions that can now use XRP to conduct their international transactions more transparently, faster and cheaper. The Australian bank will use RippleNet, a decentralized network operated by the American blockchain company that uses XRP technology to provide financial services to customers. The partnership is a next step in further growth of the XRP network and global institutional adoption.
Super How? collaboration brings XRP closer to realizing CBDC
The collaboration between the crypto research company ‘Super How?’ and Ripple will be continued under the name Axiology project in which possibilities to set up CBDCs are further investigated. It is striking that the cooperation came about partly because of the efforts of the EU Commission.
For example, the European Commission announced an innovative pilot program in which developers are given temporary exemptions from certain regulations. The partnership puts Ripple at the forefront of developing a CBDC. Investors are enthusiastic about a possible integration of the XRP network and CBDCs, which is not surprising because the trading volume in which central banks operate is gigantic. This will make XRP one of the largest payment networks in the world.
XRP trading volume skyrockets
Meanwhile, XRP’s trading volume is skyrocketing, showing strong demand for the coin. For example, 2 million XRP is currently being traded per minute, which amounts to more than $1.5 million per minute. As Twitter user NCash points out, the trading volume shows that XRP has a bright future ahead.
The trading volume is an indication of the strong demand but also shows that many traders are currently selling. Thus, they use the higher price to cash in their profits, especially around the $0.80 price area. It may result in the price cooling down a bit before a further price advance is made.
Conclusion
In short, Ripple’s new partnerships with the National Bank of Australia and ‘Super How?’ promote the adoption of XRP and explore the possibilities of Central Bank Digital Currencies. The increase in XRP’s trading volume shows the growing demand. Despite temporary price fluctuations, the future of Ripple and XRP looks bright, with the company playing a major role in the transformation of the financial industry.
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