THE XRP STANDARD: Ripple: As Use Cases And Partnerships Stack Up Criticisms Slow Down

Were you to believe only crypto twitter you’d find it hard not to think that Ripple Labs and their cryptocurrency, $XRP, wasn’t worth the code it occupies. But, as is often the case in early tech lifecycles, what is perceived as one thing may be something different altogether. And Ripple and $XRP may just fall squarely into that category.

Let’s take a moment to deconstruct what it is that Ripple Labs has accomplished in short order and work to understand how and why there seems to be such animosity toward the brand.

First, here is a short list (not exhaustive) of current Ripple partners and collaborators:

  1. American Express
  2. BBVA
  3. Santander
  4. Standard Chartered
  5. MUFG Bank
  6. Kraken
  7. BitStamp
  8. BMO (Bank of Montreal)
  9. CIBC (Canadien Imperial Bank of Commerce)
  10. Credit Agricole

These are just ten of the organizations that Ripple has current and ongoing agreements with to foster payments and back-end architecture to their banking and exchange architecture. There are literally dozens more. Dozens.

Santander and Ripple have worked closely together to create technology that processes payments and works seamlessly with Apple Pay:

“Ripple’s blockchain technology facilitates international payments through a new app. They are rolling it out as a staff pilot, with the intention to expand the technology going forward. Once the app is downloaded, Santander staff just need to complete their profile details and then they can start to make payments. It connects to Apple Pay, where users can confirm payments securely using Touch ID. It lets users transfer between £10 and £10,000 and payments can be made from GBP to EUR and USD. At this time, payments made in EUR can be sent to 21 countries and US dollar payments to the U.S.”

And then this from InstaRem concerning global payments, speed, and global exchange processes:

“RippleNet provides a single platform to quickly introduce new corridors, offer lower fees and faster transaction times — all while reducing operational overhead. Our customers now have low-cost, traceable payment services in and out of more than 55 countries worldwide.”

Much has been made across crypto concerning the differences between Ripple Labs, RippleNet, xCurrent, XRP, and other Ripple products. The narrative, from the anti-Ripple crowd, has been the supposed disconnect between several of Ripple’s banking and payments products and it’s tradeable cryptocurrency, XRP.

But we’d like to pose this question: Doesn’t Microsoft have multiple products and services that it markets to customers of all shapes and sizes across the globe? And doesn’t also have a ‘value of the firm’ tradeable security that (coincidentally) represents the market value of all the good and services that Microsoft produces?

Or how about Google and its split class of shares? One class includes specific right and legal status, while another class only represents the market value of the work and products that Google produces. Sounds awfully ‘tokenized’ to us.

The narrative with Ripple Labs should simply be this: whether you are impressed or not by the multiple products and services offered by the firm they actually do have multiple products and services. They also possess a professionalized crypto organization with a meaningful org chart and evolving business plan.

How many other crypto companies can you say about that at the moment? How many use cases, partners, and exploratory working groups that can count Bank of America, BitGo (and by extension firms like Goldman Sachs and Galaxy Digital), and other global financial institutions do other crypto teams have under their belts?

Clearly, Ripple has chosen a specific path and is sticking with it no matter what detractors say or how they say it. This isn’t DOGE coin or XVG (Verge) built from nothing and backed by nothing more than a bubble in 2017 and a few ‘interesting’ headlines. Ripple Labs is a real business putting their best efforts behind carving out a specific position in emerging finance.

Let’s see how it ultimately plays out.

**UPDATE: $XRP sales increase quarter over quarter via Coindesk:

“Distributed ledger tech startup Ripple saw revenue from the sale of the digital asset XRP more than double this past quarter compared to the second quarter of 2018.

In its Q3 2018 XRP Markets Report, released Thursday, Ripple announced it sold $163.33 million in XRP, up from $75.53 million in the second quarter. Most of the increase came from institutional direct sales, where Ripple subsidiary XRP II sold $98.06 million, compared to only $16.87 the quarter before. It saw a much smaller increase in programmatic sales quarter-over-quarter, going from $56.66 million to $65.27 million.”

***Also – the New York DFS announced the approval of $XRP and other tokens to be listed on Coinbase three days ago.



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