Global Finance Company Processing Trillions in Payments Per Year Testing Ripple’s Remittance Network

Global Finance Company Processing Trillions in Payments Per Year Testing Ripple’s Remittance Network


hello folks you have reached the cryptocurrency portal and today we’re gonna go over a little information about ripple because this headline really caught my eye and in granted ripple and really focuses on cross-border payments but this one really jumped out at me and I have a few other articles that I want to go over with you as well so first off it says global finance company processing trillions of dollars in payments per year is testing ripples remittance network so it says bottom line technologies which is a United States based payment processing and consulting company is testing ripples remittance network now according to the company’s Solutions Architect Loretta Laborde bottom line is updating its software as a service model to utilize new disruptive technologies including those built by the San Francisco startup ripple now ripple offers a payment messaging system that’s built to be a faster alternative to Swift it also gives its customers the ability to use the cryptocurrency XRP to move money across borders laborda has not specified which ripple solution the company is implementing bottom line says thousands of companies use its services to streamline their payment processes it operates in 92 countries and processes trillions of dollars in payments per year the company recently reported total revenue of 108 million dollars for the first quarter ending September 30th 2019 with a gross profit of 61 point six million dollars interesting so we’ll keep checking on that development to see if they have any more announcements when they go live all of that all right so the next article I want to go over is 212 million dollars in X RP is sent from South Korean crypto exchange to mysterious wallet in less than a month so crypto currency traders are tracking a series of XRP transfers from the South Korean exchange bit the popular whale watcher alert has identified six transfers in the last month moving a total of 212 million dollar XRP worth forty nine point five million dollars from a wallet owned by the exchange to an unknown wallet the latest alert tracks forty five million dollars excerpt of XRP worth ten point seven million sent in a single transfer so follow whale alert on twitter you can see their handle here is at whale underscore alert so great one to follow on twitter dealer from the XRP explorer bit thumb indicates the wallet receiving the funds was activated by the exchange on behalf of one of its users it does not appear to be a hot or cold storage wallet owned by the exchange itself as for where all this XRP is heading whale alert says the unknown wallet receiving the XR p is redistributing funds to other cryptocurrency exchanges hmm the receiving account teo in this XR p transaction forged to an account that is either selling or redistributing to various exchanges here’s a look at all of the XR p that has left bit thumb to the wallet in question since december 30th so here you go there’s what five transactions here is 64 million x RP worth fifteen million twenty-nine million worth six point seven million 27 million worth 6.3 million 47 million worth ten point eight million 45 million worth ten point seven million all transferred bit from bit thumb to an unknown wallet and so far bit thumb is not commented on the large XRP transfers aside from these six transfers x RP whales have been quiet in early 2020 the only other large transfers involving the third largest capital asset are from ripple which owns more than half the supply vex RP and sales portions of it every month so ballast is interesting the crypto whale alert has been notified notifying us so be sure to follow them on twitter so speaking of sales ripple sold 0 XR p on crypto currency exchanges in quarter four 2019 so they just they as a ripple just had their fourth quarter market report comes out where they transparently just discussed their businesses discuss what they’re doing in the marketplace talk about their new partnerships talk about the sales of XRP they have how much is released from rest go and what they do with it so as kind of a synopsis of this you can see they sold 0xr p on crypto currencies in the fourth quarter in 2019 so ripple dramatically reduced the amount of X or P it’s sold in the fourth quarter of 2019 the company’s latest XRP markets report shows that the San Francisco startup stopped at sales of the digital asset on crypto currency exchanges altogether the company typically sells x RP on exchanges programmatically at a rate of 10 basis points of the overall x RP daily volume meanwhile ripples sold thirteen point eight eight million worth of x RP two institutions over the counter down from fifty point 1/2 million in quarter three so you can kind of see the sales summary here as we all know ripple owns more than half of the supply of X RP and that gets a lot of consternation in the crypto space but they’re very transparent about it the company face increasing heat from crypto investors last year 2019 blamed the company’s XR P’s lackluster performance throughout the year ripple says its sales of XRP are too small to impact the price of the third largest cryptocurrency by market cap I mean obviously people need to think long term ripple in their XRP digital asset they’re just trying to build an ecosystem so if you’re in it for the long run and you’re you’re you are investing money that you don’t don’t need for day-to-day uses just buy and hold it and let them build this out a lot to me people are in this to be get rich quickly of course people want to get rich and who you would love to have make it happen quickly but that just doesn’t happen it takes a while for things things to happen look how long it took Amazon to become the behemoth that was I remember back in the early 2003 is Amazon this book company ever gonna turn a profit won’t guess what they eventually turn a big profit and a lot more and they’re in more than just books just takes a while to build up so that was all I really wanted to actually look at this ripple says it sells XRP to help fund its business and to invest back in blockchain and crypto startups through its fundraising and development arm spring and we’ve done some videos about their spring development so I’ll find that the spring video that we’ve done and actually link it in the comment section below on top of that what I’ll do in the comments section below is a link in there the video that I did over viewing the this fourth-quarter market report that ripple just released the company is also this is Ripple raised 200 million dollars last month in a Series C funding round led by to Dragon with participation from SPI Holdings and route 66 ventures we also also did a video about the $200 million two hundred million dollar VC funding round they got to get to their 10 billion dollar capitalization so I will also put in the comment section below link to that video so there’s gonna be three videos and I’m a link down there alright so moving along here and again from that market for q4 market report it says ripples XRP remittance volume increased six hundred and fifty percent in 2019 and says says ripple is reporting an exponential rise in volume on its XRP base remittance product known as on-demand liquidity and as we always talked about here this is what used to be called their ex rapid product that they released back at the swell conference in 2018 and through a rebranding and marketing efforts they renamed it on-demand liquidity or OTL probably more more user friendly parlance in the industry so it says in its quarter for XRP markets report ripple says the amount of money flowing through odl increased six hundred and fifty percent in 2019 and their quote is in 2019 dollar value transacted through odl increased more than a hundred times between quarter one and quarter four and specifically from quarter three to quarter four six hundred fifty percent the number of ODL transactions also increased by three hundred and ninety percent from quarter three to quarter four showcasing high customer demand for leveraging digital assets specifically XRP in cross-border transactions ripple launched ODL in October 2018 like I said since then twenty four companies have signed up to use the platform including monogram go lands via America’s Flash effects in interbank odl is designed to give companies a legally compliant way to move money across borders instantaneously by utilizing the cryptocurrency XRP financial institutions send fiat currency to crypto exchanges that can convert it to XRP they then send the digital asset to a corresponding exchange in a matter of seconds or just turn back into fiat money Graham remains the biggest user of ODL to date the company says it’s moving 10% of its transaction volume between the United States and Mexico through odl so there you go folks that’s the latest from the cryptocurrency up portal update please leave a comment in the comment section below about what you think about what Ripple’s doing what you think about that global finance company with the trillions and activity that’s going on let us know what you think about this video or any other video so we have a discussion here in the crypto space we deeply appreciate you tuning in and if you’re already a subscriber to the channel thank you very much I really appreciate it if you’re not a subscriber yet I’d be honored with your subscription of the channel hopefully I’ve earned your trust and if you like this video please smash the thumbs up button really helps out the channel so again thank you for tuning in to the cryptocurrency portal [Music] you

10 Comments

  • The Cryptocurrency Portal

    January 23, 2020

    Check out our Crypto website at:

    www.thecryptocurrencyportal.com

    Reply
  • The Cryptocurrency Portal

    January 23, 2020

    Here is your chance to learn about #crypto and earn your very own crypto.

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  • The Cryptocurrency Portal

    January 23, 2020

    **Support the channel
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  • The Cryptocurrency Portal

    January 23, 2020

    If you like this content, please consider subscribing to our channel: https://www.youtube.com/channel/UCN1u3dicLuUzYKDv7s4KxHg?sub_confirmation=1

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  • The Cryptocurrency Portal

    January 23, 2020

    If you like this video, check out my playlist of videos related to Ripple and the digital asset XRP: https://www.youtube.com/playlist?list=PLuSLVdrmWkJT8KB8Np7qWjILZkaH-hO2E

    Reply
  • The Cryptocurrency Portal

    January 23, 2020

    As mentioned in the video, here is a link to the video reviewing Ripple's 4th Quarter Market report: https://www.youtube.com/watch?v=qDQGy0Wo3qY&feature=youtu.be

    Reply
  • The Cryptocurrency Portal

    January 23, 2020

    I mentioned in the video, Ripple's currency valuation at $10 billion after an infusion of venture capital of $200 million. Here is a link to that video: https://www.youtube.com/watch?v=TaGVfm_qYPQ&feature=youtu.be

    Reply
  • VeChain VET Love

    January 24, 2020

    At the World Economic Forum in Davos, Brad Garlinghouse, reportedly said the firm is planning for an initial public offering https://coingape.com/ripple-ipo-is-unnecessary-xrp-will-be-useless-and-price-will-dump-critics/?utm_source=notification&utm_medium=push-notification

    Reply
  • George Harker

    January 26, 2020

    Wow….more and more momentum!

    Reply
  • Alien Tonomy

    January 31, 2020

    More and more momentum! Boom!

    Reply

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