Partnerships between cryptocurrency organizations have been the norm of 2019 and users have seen to it that the ones that occur are always pushed to the forefront. Ripple, XRP’s parent company is one major example of a crypto organization taking control of the tie-up atmosphere and it has reaped dividends again. NIUM, a RippleNet member which has a major reach in South Asian countries has revealed that it has started using Ripple’s popular On=Demand Liquidity [ODL].
Prajit Nanu, the co-founder and Chief Executive Officer [CEO] of NIUM had stated:
“Super excited to end the year with the announcement that we have got our FTSP license in Japan and registrations will happen this week. It’s been a 2 year process and we are excited to launch in Japan by end of Q1. Both NIUM and InstaRem will be active brands in Japan.”
Ripple’s liquidity parameter has been the talk of the cryptocurrency town for quite some time now and many proponents have pitched in their own comments about the feature. Despite garnering acclaim from many sectors of the digital assets industry, it has still received some criticism from members such as Nicolas Steiger, the CEO of FlashFX. Steiger was of the opinion that Ripple’s ODL technology needs more time to gain acceptance among the general public. He further added that until the ODL feature becomes mainstream, SWIFT will reign supreme.
There is a general consensus within the Ripple partner community about the risk appetite in the ODL space. This included regulatory perspectives as well as sudden decisions made by overwatch bodies. InstaRem adopting Ripple’s technology comes right after the Brad Garlinghouse led company had invested in the Singapore based FinTech startup. Ripple received a boost at the close of the year as the company reached a valuation of $10 billion after a $200 million Series C funding round.
Despite the latest update, members of the XRP community were on the fence about the latest developing having a positive impact on the cryptocurrency’s price. At press time, XRP was trading for $0.19 with a total market cap of $8.249 billion. The cryptocurrency held a 24-hour market volume of $1.105 billion after a minuscule 0.01 percent price increase on the daily chart.
The love affair between the XRP ‘Army’ and the cryptocurrency continued unperturbed after analysts pointed out that the third-largest digital asset in the world had a growth potential more than any other coin. CryptoWelson, a popular crypto Twitteratti said:
“It’s not a coincidence it’s been in the top 3 for several years. People want fast, and safe transactions on blockchain, and this offers a lot that ETH/BTC can’t.”