While the world is still trying to recover from the recent market meltdown, Ripple has kept its head low and is doing what it is best at- increasing adoption and adding partners. While Ripple already has added someone the leading financial institution to its network, it continues to add more and more partners from newer territories. The recent name on this list is of GMT, Israel’s Largest Financial Services Firm With 250 branches.
Ripple strengthen foothold in West Asia by partnering with GMT
Since the very start Ripple has been clear with its vision of partnering the best financial institutions and strengthen its network. And the company has been successful in doing that region by region strategically. While Ripple had some good partners in the Middle East, the next prominent destination always seemed to be West Asia and Ripple struck gold partnering with GMT.
GMT is Israel’s largest and leading financial services firm and has a spread outreach of 250 branches across the country. It specializes in local and international remittance services, medical insurance for tourists and foreign workers, foreign exchange, prepaid card, and other financial services for foreign workers and Israelis. The firm was founded in 2001, and placed among the first high-tech companies in the financial industry perfecting international money transfer services.
According to GMT’s official announcement, The decision came after “a long and precise process” by Ripple. While Ripple has added a prominent partner, for GMT this partnership is prominent as would help GMT in designing a global financial system framework with sophisticated values and technology. The system is seamless, affordable and transparent.
The post stated the following
“GMT is joining companies like MoneyGram, AmericanExpress, CIBC, Earthport, AKBANK and many more, who are already authorized to use Ripple’s platform,”
With GMT under its belt Ripple now has over 150 partners from various regions of the world still hopes to add more to its ecosystem in the nearest future. These partnerships are the reason Ripple- XRP has been able to topple Ethereum to become the numero uno altcoin. Even when the markets are tumbling Ripple, on the ground, is unmoved and is creating some fundamentally strong partnerships. The “BUIDL” attitude of Ripple will soon be reflected in prices and there is a possibility we may see XRP in double-digit sooner than expected.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.