financial organizations that participate in the pilot programs could save 40% to 70% compared to the expenses they incur when using the services of traditional providers.
The average transaction time in this case was just over two minutes, while the usual international bank payment takes 2 to 3 days. In this case, the operation with the XRP Ledger network takes only 2-3 seconds, while the rest of the time is dedicated to additional processing by third parties in the form of exchanges and local payment services.
Token ranks third in terms of capitalization of the digital asset list of CoinMarketCap and is part of a broad initiative that the California company Ripple is carrying out to transform the banking industry.
Despite the fact that the true value of XRP many representatives of the financial industry and blokcheyn is not without reason being questioned, the company itself believes that the token is used not only for speculation in the markets and that its decision It will be widely used for transferring valuable organizations and helping to release means for other purposes.
He also confirmed the figures that led to Ripple. In the experiment carried out by Mercury FX, the non-profit organization Misión México participated. Instead of donating through the traditional banking system, funds were sent almost instantaneously using XRP tokens and converted to Mexican pesos.
At the same time, it should be borne in mind that if the XRP Ledger network can theoretically process 1,500 transactions per second, it is still significantly lagging behind the Visa payment system with its 24,000 transactions per second. Similar SWIFT indicators are estimated at 30 million transactions per day or around 350 per second.
Earlier this month, an investor from XRP filed a class action lawsuit against Ripple, accusing it of violating the federal securities act of the United States. UU., As well as the laws of California, when it launched a public sale of tokens.
