The new altcoin project, defined as “opportunity in payments” by Goldman Sachs, became a market giant that established serious relations with the banking sector.
Investment giant Goldman Sachs describes Ripple as “opportunity”
A recent Goldman Sachs report, “Cryptocurrencies and Blockchain Overview”, describes Ripple (XRP) ) together with Circle, a P2P payment technology, and Coinbase, describes it as an “opportunity in payments.” The report highlights RippleNet, a network of corporate payment providers such as banks and money remittance services using solutions created by Ripple.
The financial industry continues its march towards crypto as cryptocurrencies become more prominent in the consumer mainstream. Earlier, Warren Buffett, a prominent crypto critic, invested $1 billion in Nubank, a Brazilian digital bank specializing in cryptocurrency. Binance has also announced plans for a new payment processor that will allow customers to use cryptocurrencies for individual purchases.
Increased adoption towards payments with altcoins
A recent “Cornerstone Advisors survey” that we cite as Kriptokoin.com found that 60% of consumers who already own crypto “absolutely” want to invest in cryptocurrencies. proved to use it. Also, a PYMNTS.com report stated that 78% of millennials and 82% of generation Z crypto owners are interested in using it for contactless shopping.
Countries in Asia and the Pacific have risen to the top of the world in offering instant payments using digital banking systems. APAC has risen to dominate the digital banking business in recent years, accounting for 20% of the world’s nearly 250 digital banks. Instant payments are digital transactions between participating banks that use an instant messaging/payments layer to provide real-time payments and great end-user experiences. To make a real-time transfer, several non-crypto instant payment networks need pre-funded beneficiary accounts. On the other hand, Ripple’s (XRP) On Demand Liquidity (ODL) eliminates the need for pre-funding.
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