Ripple Labs has been surprisingly silent with their plans, which has led to wild speculation of what they intend to do with xCurrent and XRP their cryptocurrency.
They have moved forward and launched operations in Chile, after expressing their intention to quickly dominate South America. It wasn’t long ago that they had launched in Brazil, with Peru and Argentina still on their list. It has only been a month and a half since Brazl, and now in Chile, a money transfer company called CurrencyBird will join RippleNet.
They will be the first company in Chile to join the global network and take strides in bringing cryptocurrency into the populations daily lives. Ripple is a platform that, through its products based on blockchain technology, delivers solutions to financial institutions to make the experience of transferring money more expeditious and reliable. The addition to Ripple Net will bring many benefits for the more than 12,000 Currency Bird customers, as it will allow the company to add new routes to its more than 50 destinations, new currencies, better prices and faster transfer speeds, all using the technology developed by Ripple based on blockchain, which allows the transfer of digital data with sophisticated and secure coding.
The platform has gone live, after the agreement with Ripple was finalized in March of this year. Meanwhile Ripple is also rumored to have started working on bringing their platform to 20 African countries through RIA, which is partnered with Moneygram.
Ria2Mobile in partnership with Ria Money Transfer and GT Bank in Accra is working on Zeepay which will launch to 150 million mobile money subscribers in 20 African Countries, and through that MAY have access to Ripples platform. It’s possible it will just be using xCurrent, but for now all we have hare rumors.
SWIFT still remains a threat, as they recently greatly cut down on transaction speed to seconds, bringing it in the realm of Ripples capabilities, which makes it an extremely tempting option for cross-country payments.