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Ripple/XRP ties with Veem causing a new wave of speculation about potential adoption of xRapid

Felix Küster Felix Küster
October 21, 2018
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ripple

XRP is the third cryptocurrency by market capitalization with occasional overtakes of Ethereum and jumps to spot number 2. Even though its status of cryptocurrency is highly debated in some crypto circles, XRP token holders firmly believe their bags will make them rich one day.

The company that founded the Ripple ledger and also created the XRP token, RippleLabs is lead by high-rollers of financial world with great connections in the loathed banking system, which is a blessing and a curse for XRP at the same time.

Blessing in a sense that this brings them some real substance partnerships with serious institutions. Curse in a sense of being despised by the rest of the crypto universe for the exact same reason.

Ever since Ripple launched the xRapid network which is one of the services that actually uses XRP token for money transfers, there have been onslaught of positive news of partnerships and adoption. A rumor of Veem, a worldwide institution in the international payments working on XRP network have resurfaced again among the XRP holders.

They are based on the last year’s Swell conference announcement that Veem will use XRP as one of the payment options alongside bitcoin.

As one Redditor speculates:

VEEM received $25 million from Goldman Sachs and a Forbes article was released stating they use ‘Bitcoin’ for payments. SBI Group is listed as an investor on their website. Furthermore, in a page on their site titled ‘What is Blockchain’, they state how they can only send payments using blockchain to three countries at the moment: Mexico, Brazil, and the Philippines. 2 announced xRapid corridors and 1 that David mentioned being a possibility (Brazil). I find this a bit of a nice coincidence and a good sign that XRP could be the payment mechanism used here. Anyone else find this quite a coincidence?

Edit: VEEM was also mentioned at last years SWELL to be a candidate for XRP.

https://www.veem.com/what-is-blockchain/

 

 

It’s also important to mention that Ripple recently added Viamericas to its list of companies that are using xRapid.

Viamericas is the largest company in the U.S. that provides cross-border payment services to 34 countries. The CEO of the company said that they believe digital assets such as XRP will play an essential role in the future of cross-border payments and Ripple will be able to address the most stringent inefficiencies that traditional infrastructure is dealing with.

Weiss Ratings also raised the XRP and EOS rating to B, up one grade to the last report. These are the two highest rated values. Cardano is rated lower with B-. The three values are in green score, which means buy and strengthen. Out of about 120 stocks listed 50% are in red score ie sell and stay away. However, Weiss Ratings don’t enjoy nowhere near the respect and credibility they used to so take these with a grain of salt.

The Ripple community is expecting to see a surge in XRP’s price soon. On Coinmarketcap, XRP is currently trading in the green and it’s priced at $0.460807.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

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