500 Financial Institutions using RippleNet. Survey: RippleNet used by 21% of Banks & PSPs.

Hello xrp community how are you doing so here where i am it’s a national holiday tomorrow so it’s a long weekend and i had some time to do some digging and boy did i find some great information but before i start i would like to say something about the sec lawsuit we’ve had some recent developments but of course jeremy hogan john deaton and james will be covering

This news they’ve been doing an excellent job along with a few other xrp community members that are not lawyers but have been digging information non-stop the digital asset investor cryptoary bradley times and many many others and i try to help out as well and um i was very pleased to see that when senator toomey asked for feedback on crypto and blockchain laws

Ripple’s response included this which of course is a video of uh gary gensler that i found and this is the reason why we do this this is why we dig around and we try to find information that will help ripple win this case because quite frankly they deserve to so let’s see what we have here so i’m going to start this topic by covering this first this is

Old this is from june 7th 2020 more than a year ago it was the last update that we had about ripple’s customers so navin gupta gave this update in june 2020 and let’s listen to this part as some of you may already know ripple um so we are we are one of the largest blockchain companies in the world which is in production we have about 350 financial institutions

Who use our technology every day and so 350 financial institutions that used ripple technology in june 2020 as we know of course the last official update was in november 2019 at as well in singapore so after announcing 300 customers we have we had no news until now so volante it’s a very well known company they offer payments as service solutions and of course

They’re working on ripple via volpe they integrate ripplnet they offer this option and of course as we also know they can a volantis platform can be used to settle through xrp so recently they announced i got this by accident i don’t know i get emails from volante and i got an email today about this survey that they did along with finextra and it’s from may 2021

But i just received this email and it’s about the payments modernization about the cloud imperative so about this survey the survey conducted in early 2021 aimed to quantify trends in payments modernization cloud and as a service delivery models for account to account payments we were also interested in engaging the impact of the kovi 19 pandemic on financial

Institutions own operations and on the needs and expectations of their customers and the adoption rate of various domestic and cross-border payment networks so this service had a sample of 150 banks and payment service providers these are not necessarily volante customers volante has a hundred plus customers uh so 44 were from the eu uk or not the countries 22

Percent each from north america and asia pacific 47 were global banks 48 of respondents work in the corporate transaction banking space with a remainder in consumer and small business payments so 150 banks and payment service providers where to play took uh they participated in this survey so about some trends that they’ve noticed is that the swift gpa service

For efficient transporter payments over the corresponding banking network calendar has more than 4 thousand participant banks and transacts more than 300 billion each day but our survey found that over half of our responders and also are also regularly using transport to payment results from mastercard and visa while blockchain-based network ripple is being used

By 21 of organizations so this was a 150 banks and financial institutions that were asked what they’re using and a fifth of them more than a fifth of them is using ripple net this is a survey by volante and also ripholdnet is also mentioned later on in this survey the ripple which has its own growing frictionless blockchain-based cross-border payments network

Helping its bank customers target retail and smes is probably the loudest competitor to swift often directly positioning its achievements against that of the cooperative he has also joined the iso 2022 standardization committee and aligning itself more closely to the standard will help it to drive interoperability with global payment networks our survey found

That ripple has higher penetration in north america and asia pacific about 30 percent we know about this ripple has most customers in these regions compared to 21 of course of respondents in europe the traditional tom swift so i was going to do a video about this but then i thought uh volante is one of the integrators that integrate companies onto ripple net so

I went on to exoplacate to find other technology companies that i’ve included in the ripple ecosystem and to mention a few of them so i went to ibis ibis is one of these companies that integrates ripple net onto various customers via this swissroot ripplnet adapter so i stumbled upon this announcement that is from september 27th ibis welcomes vitanova bank to

The ripple network ibis management is happy and proud to welcome vidanova bank to the growing list of over 500 established global financial institutions that have chosen to embrace fintech innovations offered by ripple technologies out of silicon valley with this new reliable service the bank enters a new era in cross-border payments processing for its clients

Embracing new technology and innovation places with anova punk on the forefront of speedy compliant and reliable cross-border payments offered by our swiss root ripple net service so this is a bank from kulakau in the sorry i’m stuck in the caribbean uh so and uh as one of the few caribbean countries and our first krakow bank to join the river net via swiss

Route vidanova bank takes the challenging future of the financial world head on traditional banking practices are becoming more obsolete restrictive and one-sided which prevents banks from having the flexibility to maneuver independently in their markets beyond that the reaper net provides an open platform for local and global banking commerce to flow through and

Become more efficient with operational practices reduce risk of fraud discover new correspondent banking partners reduce operation costs and much more as the leading fintech solution provider and consulting firm in the caribbean over the last 20 years it’s our mission to reshape the standards that inspire new growth we are fully committed to achieve this together

With vidanova bank so they clearly mention that there are over 500 established global financial institutions that are working are using ripple technologies so this bank from curacao which is in the caribbean has recently joined ripple net so i’m not going to go into who vidanova bank it’s a small bank it’s in kurakau and we have noticed a lot of new customers

Coming from that region lately it’s been working very aggressively in that region uh ripple so we’ve seen sojbank from haiti recently i did a video about this from it was on august 24th that they announced a such bank joining uh ripple net this was not announced by ripple this has not been announced moreover i found three more ripple customers out of a few linkedin

Out of one linkedin profile of a ripple employee in the banquet estado of chile the peruvian texan digital bank b-89 and the colombian-app card movie these have also not been announced it’s a pattern we know about this we we talk about all the time very few announcements and now we we see that uh ibis mentions 500 customers but in the past i have to say this

I found a mention by movit that it said that ripple had 1 000 customers using its service banks and financial institutions and when i contacted movit they changed this their website from 1000 to 300 plus so we don’t know if ripple they obviously don’t want to announce this perhaps they’re waiting for something to announce it perhaps it’s not a valid piece

Of information but it’s here it’s clearly mentioned that uh ripple has 500 established customers uh so i would expect ripple to be having this amount of customers because it’s been almost two years since 300 were announced and about two per week two three per week would lead us to 450 and above but as we’ve seen there are so many companies integrating

Ripple net technologies that the process is being sped up so i’m really impressed by the progress in this region in the caribbean the central and latin america and i was thinking about doing the video about ripple’s progress in the region and now that i’ve seen all these new partners i’m definitely doing it when i have the time so thank you for watching i hope

You enjoyed it don’t forget to click click subscribe like this video and always stay safe thank you

Transcribed from video
500 Financial Institutions using RippleNet. Survey: RippleNet used by 21% of Banks & PSPs. By Leonidas XRParcade