XRP Ledger (XRPL) Is Solving “Real Time” Cross Border Settlements: HSBC Report
XRP News: Ripple Labs is on a global expansion spree despite facing legal troubles from the U.S. Securities and Exchange Commission (SEC). As the blockchain firm is making a move to spread in Europe, a major bank acknowledged its XRP Ledger (XRPL) as a game changer.
Also Read: US SEC Replaces Introductory Disclaimer; Another Win For Ripple?
XRP Marking A Global Presence?
HSBC, one of the world’s largest banks issued a report on Distributed Ledger Technology (DLT) in the Capital Markets. It highlighted the game changers and future trends in Securities Services. In the report, the bank cited how Ripple’s XRP Ledger is solving the problem of real-time cross-border settlements.
(XRP Ledger (XRPL) is Ripple’s DLT which utilizes its native token to make fast and secure cross border transactions.)
However, HSBC mentioned that its foreign exchange tool has handled more than 3 million inter company transactions in the first 6 years. These transactions are worth around $250 billion. HSBC reportedly holds around $3 trillion of assets under management. XRPL receiving a mention by such a big banking institution suggests the global adoption of Ripple’s technology. Read More XRP News Here…
Also Read: XRP Gains Outperforms BTC, ETH; Ripple Moves 900 Million XRP Back To Escrow
Ripple’s native crypto is on a whopping surge recovering from the decline caused the legal uncertainty in the United States. XRP price is up by 55% on the year to date (YTD) basis. However, most of the gain registered by the token comes in the last 2-3 months as Ripple Labs, defendants in the SEC lawsuit bagged several judgments in their favor.
XRP Best Performing Cryptocurrency WoW
XRP price jumped by more than 40% in the last 90 days. It is being reported as the biggest gain among the top 50 cryptos in the mentioned time period. It is trading at an average price of $0.5191, at the press time.
It is to be noted that while overall crypto market including Bitcoin is struggling to hold fall in price, XRP price is by 10% over the last week.
- Indian Court Declares XRP as Property in WazirX Hack Case
- Ethereum Supercycle Strengthens as SharpLink Gaming Withdraws $78.3M in ETH
- Trump Tariffs: Secretary Bessent Declares ‘Fantastic’ Trump–Xi Talks, Bitcoin Breaks $113,000
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
