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Banks have been fans of XRP for a while now, Ripple Regulatory Officer

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In a tweet that has now gone viral, Sagar Sarbhai, who is responsible for government and regulatory relations for Ripple in the APAC and the Middle East, explains that banks have actually been fans of Ripple for a while now.

Often, many investors and traders worry about certain aspects of a project, such as whether the demographic is large enough, or whether mass adoption is likely. Mr. Sarbhai instead reveals that in 2016, Ripple had the foresight actually to give twelve separate banks some XRPs.

They also made sure that the banks were in all different parts of the world, and that there was no pre-existing relationship between any of them, in an effort to make sure that this experiment was as unbiased as possible.

Ripple found out that since there were so many regulations regarding the fact that they have to record assets meticulously, and there was no way they could actually account for these new digital assets – that banks, although they loved how efficient and convenient the technology was, recognized that the regulation wouldn’t allow for them to legally use Ripple.

Ripple had to go back to the drawing board and figure out how exactly to combat this problem. They came up with XRapid as a way to deal with regulation and instead ended up partnering with payment providers. The entire point of XRapid is to have the Ripple project finally come to fruition in the form of real crypto utility, and also provide liquidity to the markets.

XRapid is already working with all sorts of money transfer companies, such as MoneyGram, Western Union, and others. Given the fact that the remittance industry, where foreign workers send money back to their families, is ITSELF a sector that is worth hundreds of billions of dollars, and is an integral part of multiple countries – this could be massive for Ripple, which has previously ran to over $3 off of speculation, and without actual utility.

The momentum is strong with Ripple, which is probably why Sagar Sarbhai tweeted out his 2016 conversation to provide context to the positive way that the market is responding to Xrapid, probably as a way to show investors and traders that this has not been overnight and that the team has been focused on a relationship with since the inception of the project.

Brad Garlinghouse, the CEO of Ripple, has also said in June that major banks would be using XRapid as 2018 ends and also believes strongly that dozens of banks would be adopting XRapid in 2019.

He also stressed that he believes that this would indeed happen as long as Ripple remains a real solution to real problems. Given the fact that it transfers money more efficiently than traditional banks, and that it could save banks massive amounts of money by serving as a “bridge” between currencies – that certainly seems to be the case.

Ultimately, this is all fantastic news for those who are holding Ripple long-term, and time will tell whether “dozens” of banks do end up using and adopting XRapid . Sarbhai stated in his most recent interview with CNBC that the official XRapid commercial launch could happen “in the next month or so”.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Luuk Wouters on Unsplash

Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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