The demand for Ripple’s XRP seems to incline as more and more financial systems across the world adopt Ripple’s technology. The significance of Ripple’s service is sublime, which provides you with a faster and secure way to make cross-border transactions on a daily bases.
Equens: A Major European Payment Platform
EquensWorldline.com is the first-ever pan-European payment system that was established back in 2006. As an outcome of amalgamation between one of Europe’s top payment networks; the Dutch Interpay Nederland B.V., and Germany’s Transaktionsinstitut für Zahlungsverkehrsdienstleistungen AG, Equens network came into begin.
Significant Dutch, German, and Italian banks hold the share of Equens. Germany’s DZ bank holds 31.1% share, Italy’s Istituto bank holds a 20% share. Dutch banks; ABN AMRO holds 18.4% share, ING holds a 15.4% share, and Rabobank holds 15.2% share.
ING and Rabobank of Netherland are already in collaboration with Ripple, and Germany’s DZ bank has a subsidiary working with Ripple. So, the majority of the shareholders of Equens are partners with Ripple in some way. This makes it really interesting that a couple of banks are already working with Ripple.
Some of the key facts that show the significance of EquensWorldline network is that more than 320 financial institutions are using its services across Europe. Over 13 billion payment and 11 billion card transactions are processed each year by the payment service provider in question.
Equens Interested in Ripple’s XRP
On Aug 1, one of the XRP’s community member ‘stuart_xrp’ from Twitter tweeted regarding equensWorldline that the European payment service provider wants to use Ripple’s XRP for the cross-border services. However, Stuart tweeted:
“Disclaimer: please note that the following represents the personal views of the speaker and is not the official position of #equensWorldline or its subsidiaries or of its clients and partners” 2017
— ༜༝🅂🅃🅄🄰🅁🅃🅇🅁🄿💧⚡ (@stuart_xrp) July 31, 2019
Also, the Twitter user added that equensWorldline follow Ripple on Twitter. The document discovered from Equens shows that European payment provider had all praise for Ripple’s XRP and they are willing to utilize its services.
The document stated that with the innovation of blockchain technology, it has become possible to complete transactions that once took 5-6 months. Moreover, Ripple got eulogized as the document expressed that banks embrace Ripple and move beyond testing to real-world transactions.
Though the document was published some two years ago, the main thing is that EquensWorldline applauded the idea of using XRP.
However, the XRP community is in a state of FUD as the document carries some spelling error – where instead of ‘Central’ it was written ‘Cental’ at the top of the document. In spite of the grammatical mistakes, stuart_xrp claimed it to be a piece of authentic news and presented with a licit source.
More and more institutions are relying on Ripple services, and things seem to fall in the court of Ripple’s XRP this time around, too, which is good for a reason.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.