Ripple has been included in the list of the top 100 cross-border payment firms by FXC Intelligence. It is ranked with top giants in that field like PayPal and also UBS.
The San-Francisco blockchain company Ripple Inc. has been recognized by FXC intelligence as one of the top 100 most important companies globally that are dealing with border payments in 2020. Ripple is the only crypto-related company that made it in the list of the cross-border whales.
FXC Intelligence is a financial data company that uses strict rules in coming up with the list of 100 top companies in an industry with over 14,000 players. To make it in the list, companies have to fulfill certain criteria.
First of all, the company has to be of a certain scale where it has not to be startup or VC. Secondly, the companies do not need to have raised outside funds, however, they must have an established customer base. Lastly, cross-border payments must be either the primary business or make up a substantial amount of their daily activity.
With these tight FXC criteria to meet, Ripple is proving to be a big fish in the industry while the XRP price (this coin is widely used in Ripple’s solutions)is struggling to rise after a drop. However, this shows that all the work Ripple has been doing in laying a strong foundation and solving consumers’ problems is finally paying off.
The list was divided into several sections that feature the world’s biggest financial institutions. According to the list, most of the companies listed among the top 100 are observed to be partners with Ripple, companies like MoneyGram and also TransferGo.
Appearing on FXC Intelligence List: What It Means to Ripple Inc. and XRP
Ripple has been making big waves in collaborating with other bigwigs in the financial sphere. Ripple has partnered with international finance institutions and also central banks worldwide to open up fast and secure payments using its flagship project RippleNet and XRP.
With Ripple now listed as the lone wolf in the top 100 cross-border whales, confidence in the market is expected to rise. Furthermore, according to analysts, crazy speculation in the crypto market has been the driving factor in crypto bull rally.
The biggest beneficiary of the recent announcement is going to be both the Ripple company and the XRP market price. With the company looking forward to going public through IPO (though it is still unclear whether it will happen soon), it is very important to gain confidence from the side of potential investors.
Therefore, this will lead to a sharp increase in demand for XRP and Ripple shares (once again if they will be offered to the community) which will result in an increase in market valuation. It will be interesting to see how Ripple will take advantage of the news and what will be the future effect on XRP prices.
A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery!