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Mastercard Executive VP reveals they mentored Ripple back in 2011

Published

6 years ago

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Ripple Mastercard

Ever since we know Ripple, one of the most remarkable characteristics of the company has been the way it relates with the financial world, a fact that has put the company in the spotlight as the most extended payment solution for cross-border transactions.

To say the least, we’ve all been wondering how did Ripple manage to get this sort of attention from the sector in such a seamless way, and well, as it all seems, everything is starting to have a sense now considering the recent declarations of the current Executive Vice President at Mastercard.

An extract of the full interview has been published on Twitter on September 11th, and many speculations have been going around the subject, as people consider as well declarations may be someway altered.

However, regarding what the video exposes, the executive member at Mastercard says they were crucial support for Ripple back when they were only discovering what they could attain to. Let’s see the main details of the declarations given.

A spirit of generosity is necessary

According to Colleen Taylor, Executive Vice President at Mastercard, it was back in 2011-2012 when Ripple came to their company to look for strategic advice for scaling their product.

Back then, the general sentiment for big companies was to be afraid of those starting as they conceived them as a potential threat. However, this was not the case for Mastercard which instead saw an incredible opportunity in Ripple’s proposal.

Taylor said,

“We started making questions about the solution, and we actually recognized there was some gas in there.”

So when they asked me if I could spend a couple of days with them developing a strategic plan for their product, I didn’t hesitate. In fact, it was easy to see we could work together, as I saw it they had the agility and we had the scale, and that for me was the perfect match.

In this sense, Taylor admits that in today’s business it is quite different the approach that is being given to startups concerning guidance and mentoring.

“This idea of I have the scale, you have the agility we can work together bringing solutions to the market” is pretty much an adopted idea for several big companies now; she said. Nonetheless, is not only a matter of developing the idea, or improving the business plan, we actually need to help them scale, and “the only way to do that is through a spirit of generosity”

Beyond incubation what startup companies need is a program that guarantees them to be in contact with potential clients, a program that says “We are gonna get you in touch with real banks, financial institutions, and get you your first clients, so you get to scale”, that’s definitely the next step in mentoring.

Conclusion

For sure we can see now where it all came from when it comes to Ripple’s strength in the market, and undoubtedly we will continue seeing the company to grow and reach new levels. At the time of writing, Ripple’s (XRP) has a value of $0.2635, let’s see which side the coin moves in the coming days.

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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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

Published

4 months ago

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December 29, 2023

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BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD)  on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

4 months ago

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December 27, 2023

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

4 months ago

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December 22, 2023

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama…

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