Ripple just dropped a major announcement, one that is set to get the attention of its competitors surely. In its quarterly report, Ripple displayed a tremendous spike in growth and credits sound business strategies for this exciting development. The enterprise proudly announced to its customers how they were able to witness the purchase of almost 170 million worth of XRP dollars, an impressive 0.32% of all the worldwide transactions of the currency.
Impressive Growth
In the publication, Ripple took time to make reference to the performance in the last quarter, and the surge in performance was more than noticeable. This is especially true for the areas of programmatic and direct sales.
The blockchain firm went ahead to clarify that at the moment, they have been able to net over 200 customers – and they all actively make use of its packages like xRapid, xVia and, xCurrent to meet their needs. In the same report, Ripple stated in this year alone, 19 new exchanges listed XRP, thus bringing the total of the exchanges with the crypto on offer on the trading floor to almost 120.
Ripple is Recording Great Performance, But so is JP Morgan
Even though the figures coming out from the stables of Ripple show commendable growth and performance and a projection for even greater success, it must be pointed out quickly that the competition is real. On the one hand, SWIFT is dead set on the creation of its own cutting-edge platform that will run on blockchain technologies. On the other hand, there is also JP Morgan who has announced to all, its new collection of banks that have signed up to make use of its Interbank Information Network.
For those who are not aware, the Interbank Information Network is a package designed by JP Morgan, and it runs on blockchain technology as well. JP Morgan has explained that the network is recording a steady rise in growth and it is on a gradual rise to dominance of the sector.
The collection of banks that have signed up to use JP Morgan’s network is also a very impressive one – it has 198 customers from different parts of the globe, and that is not all. JP Morgan further revealed that this number is bound to increase stating that as more banks join, it will become even better in terms of performance.
JP Morgan promises a drastic reduction in delays and the resultant costs associated with transactions – the ultimate beneficiary will be the customers and clients on the network. Some of these banks are Australia and New Zealand Banking Group Limited, Bank Saint Petersburg, Bank of Nanjing, China CITIC Bank International Limited, China Guangfa Bank, Ho Chi Minh City Development Joint Stock Commercial Bank and others.
What this trend signifies that although Ripple is doing an amazing job with its growth, the contemporaries and rivals like JP Morgan are also not resting on their oars. At the end of it all, the overall winner will be the one who satisfies the needs of the customers the most.
Image courtesy of Geograph.org.uk.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
