Ripple’s XRP is one of the most admired cryptocurrency by big firms across the world. Its wide reach and structured growth are two things investors cherish in the digital currency. The wide acceptance of xRapid and xCurrent has been a major source of reference for those who see future in XRP.
As the name XRP continues to spread here and there, financial institutions do not have any other choice than to adopt the digital currency.
This has made Vontobel Investment Banking, a specialist in investment solutions for private and institutional clients, to increase its investment opportunities in cryptocurrency by launching an Open-End certificate on Ripple’s XRP for investors in Germany and Switzerland.
Previously, the financial firm launched the same certificate for Bitcoin, Bitcoin Cash and Ethereum investors.
While categorizing Ripple’s XRP, Vontobel says unlike Bitcoin, XRP is not a pure cryptocurrency, but a payment token within the Ripple network. The certificate is a unique option to a direct investment in the digital currency due to its series of advantages.
The With the Vontobel XRP certificate gives investors full opportunity to take part in the price performance of the Ripple’s XRP without necessarily accessing the Ripple network or having XRP wallets.
Since Vontobel is the issuer of the investment certificates, the firm provides the services and processes. Note that the certificate is tradable on the stock exchanges, meaning investors can only make use of trading hours, market making quality requirements, liquidity and settlement of regulated exchanges, Vontobel says.
Ripple to Provide XRP to over 1 Billion Indian
Ripple has announced it is providing XRP to over 1 billion Indian residents purposely to increase the adoption of the digital currency.
A revelation by Asheesh Birla, Vice President of Product at Ripple, affirms that Ripple is doing this to increase the usage of XRP.
He made this revelation during a panel discussion on Scaling and Digital Disruption in Fintech, widely shared by Express.co.uk, saying the Ripple is massively planning to fully introduce the whole of India market to XRP since it is the world’s largest growing economy after China.
“We looked early on at India, and we looked at two billion people – a huge market. And we decided, how do you get two billion people onto Ripple? Do we give the currency away to every Indian, that’s like two billion – just give it away?”
Now, Ripple changed its route, saying it realized that partnering with top Indian banks will make it get at least 80% of the country’s market share.
However, the blockchain firm said it realised Indian will be banking through phone in the next 5 years, this, made Ripple think of partnering with top mobile phone providers and telcos.
At the moment, as revealed by Birla, nothing less than 50% of the India market is being captured by Ripple.
Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.