The company behind the third biggest digital currency, Ripple has been on a charm offensive to rope in as many RippleNet customers as they can. This effort has seen customers of the company explode and grow too big numbers. Currently, the San Francisco based company has over 200 customers under its belt.
Many people already are aware that Ripple is the innovative firm behind XRP. from XRP’s point of view, it has seen some massive share of growth especially in terms of markets capitalisation. Nevertheless, there hasn’t been much activity in its price range over the last week, but that could change soon. As was expected, Ripple’s success in bringing in more customers could be a great bonus for the third biggest crypto.
The latest of these efforts is Ripple heading towards the Asian market. Joining RippleNet a few weeks ago was the largest Islamic bank in Saudi Arabia, Al Rajhi as well as Kuwait Finance House. However, the biggest announcement to come of the past few weeks could have a big impact on the market. While attending the U.A.E conference in Dubai, Dilip Rao from Ripple had some positive news to tell.
Dilip Rao is the head of Ripple’s Global Infrastructure Innovation and during his speech, at the Dubai conference, he announced that plans by the company to full head into the Asian market by setting up base operations in Dubai. This is expected to be realised by the end of this year. Moreover, Rao explained the importance of Ripple’s technology and what it means for the workers within the Middle East. Given the fact that many workers in the area are foreign and send their earnings to their home countries, there has been a big issue in that the transaction fees charged have seriously affected them. The time that it takes for the transactions to go through comes as a disappointment for many.
As said by Ethereum World News, the global infrastructure head explained that Ripple’s goals aim to remove these burdens by introducing a speedy transaction processing system which charges negligible figures in transaction fees. In addition to this, he discussed the InterLedger Protocol, if implemented the Protocol will lead to several ledgers to connect and make funds transfer more effciently. Currently thought the XRP network can handle around 1,500 transactions every second which leads it to be the world’s quickest crypto network.
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