Announced big collaboration from Ripple - Will XRP cost increase?

With a budget of nearly $ 400 billion, PNC has become the first bank to make cross-border payments using RippleNet.

Finty Futures announced on August 29 that PNC Treasury Management is now using RippleNet for cross-border payments. Thanks to the blockchain, it will allow its clients to:

"The ability to receive payments from foreign buyers based on their invoices, changing the way they manage their global accounts receivable and allowing them to better manage their working capital."

Ripple: MoneyGram partnership brings fruit

As announced, PNC first unveiled its plans to use RippleNet - and specifically Ripple xCurrent's liquidity product - as early as September 2018.

At that time, immediately after the announcement, the XRP value began to rise. At the time of writing the article on the XRP coin, there is no big price increase.

Ripple's Global Institutional Market Leader, Breanne M. Madigan said this week that the award is not an important showcase of the company and its collaboration with the companies.

Madigan shares fresh data on August 23, which found that while total XRP trading volume dropped by almost 65%, the Mexican crypt-named XRP / MXN volumes rose sharply by more than 25% over the same time period.

Madigan said the data is a sign of genuine use that increases the actual volume.

In June, Ripple announced that it had purchased a 10% stake in MoneyGram - the world's second largest remittance company. The central provision of the agreement was that MoneyGram would start using xRapid.

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