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Middle East Central Banks Are Building On Ripple XRP

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Keywords: Ripple, XRP, Bitcoin Cryptocurrency

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14 Comments

  1. If they are already using XRP, where's the volume? Watch "Swell 2018: Central Banks Show and Tell". The representative for the Saudi Arabia Monetary Authority clearly said Saudi Arabia was working on issuing it's own digital currency. He was also very sceptical of adopting anything issued by an external party. Whilst I truly hope you're right, the title of this video and your argument is based purely on an assumption.

  2. My hunch is that they are using their own token not XRP and possibly their own ledger which would be compatible with XRP ledger through the ILP. As Ripple has stated their main business is selling software to banks to improve cross border payments. Ripple are consultants and helping the UAE implement the technology. Ripple uses XRP to show the Banks how it all works then the banks decide what and how they’ll implement things. Banks are very conservative by nature and for security reasons I have my doubts that they are ready to put all their transactions through XRP and it’s ledger which was not created by their own people. But that’s just my opinion. If it is revealed that the UAE are indeed using their own token this will shake out the speculators as it will explain why nearly all those 200 banks are not yet using XRP and have no intention of using it. By the way I am a fan XRP but I would like to see more projects like ALLVOR on the XRP ledger and more grass roots projects. But this is not something Ripple seem interested in.

  3. Alex, YES Ripple is there – NO XRP is not the digital asset they are talking about. And for information every tier one bank in the world has long standing relationships with the Saudi's – Oil doesn't buy it's self.

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