- Ripple’s community demands integration of XRP by Siam Commercial Bank
- SCB’s capability can push Ripple XRP to the top
Ripple XRP, the third largest digital currency by market cap, pulls daily for prominence and recognition in the cryptocurrency world with outstanding ground work. The largest Commercial Bank in Thailand, Siam Bank integrated Ripple as a payment company some days ago, but XRP community now anticipates the incorporation of its coin.
The community around Ripple XRP has not given up on its market price by criticising its slow growth, but rather rallies to take the digital asset to an expected end.
Ripple XRP is one digital asset known for its enthusiastic community, and the payment company and its coin have been in conjunction in order to cause improvement to the dwindling market price of XRP.
Siam Commercial Bank Incorporated Ripple on Its Network
Some days ago, the largest and the oldest Commercial Bank in Thailand, Siam Bank incorporated Ripple on its payment network.
The anticipating XRP community went ahead to ask about the integration of Ripple’s digital coin via the bank’s twitter handle.
Siam Bank swiftly responded by calming the expectant community, assuring them that underground work is ongoing about incorporating XRP. The bank promised to make it public once the integration is finalised.
We will be using Blockchain Technology for ripple but as for XRP, you may have to wait for further announcement.
— SCB Thailand (@scb_thailand) May 22, 2019
Kieran Kelly, an obvious Ripple’s XRP enthusiast and investor captioned the response of Siam Commercial Bank to the noble question of the community member.
Kelly in his tweet displayed his excitement on the possibility of including XRP, describing it as an exciting announcement worth waiting for. He definitely hopes to see the move impacting the price of Ripple’s XRP in the cryptocurrency market.
— Kieran Kelly 🏴🇧🇧 (@kieranmlkelly) May 23, 2019
The fact that Siam Commercial Bank transfers payment using Ripple blockchain is a very big step to XRP mainstream adoption in Thailand.
Ripple is quite garnering necessary exposure to win the competition against traditional cross-border payments system. It has secured over 200 partners on its RippleNet.
What the Upcoming Integration Means to Ripple’s Digital Currency, XRP
The pedigree of Siam Commercial Bank cannot be underestimated. The integration of XRP is expected to enhance its usage due to the exposure it will earn among the business tycoons in Thailand.
Meanwhile, the bank had already tested the capability of Ripple’s cross-border payment technology. The trial was quite successful, making a transaction meant to complete for two days possible within a minute. Success of Ripple with the bank could mean an open door for XRP at no distant time.
The bank was founded in 1906, and is headquartered in Bangkok, Thailand. Siam Commercial Bank boasts of $13.7 billion market capital according to Forbes.
The employee capacity of SCB is relatively 18,200 with $7.1 billion sales. Exposing Ripple’s XRP to this high ranked profile is indeed a big deal for the growth of the digital currency in terms of market price and global adoption.
At press time, Ripple XRP is relatively trading at $0.38, with about 3.16% drop in market price in the last 24 hours. Hope is alive within XRP community with the road map to greater heights in Ripple’s XRP portfolio.