Ripple co-founder and CEO Chris Larsen showed off a graph at the Crypto Finance Conference in Half Moon Bay, California that shows Ripple currently has over 100 contracts with partner companies and is ready to go.
This essentially means that these companies are not just testing Ripple technology, but are also determined to commercially integrate one or more crypto products in the future.
Ripple offers a suite of software solutions designed to help financial institutions increase the speed, track and lower the cost of transactions. XRP cryptocurrency is used in xRapid, which is designed to improve cross-border payments.
Ripple CEO Brad Garlinghouse said earlier that the company signs an average of one contract with a bank per week.
“It was an incredible 2018 for us. We are currently signing one bank for a production contract per week. We announced that we have signed the largest bank in Kuwait, the National Bank of Kuwait, so we will continue to gain momentum. "
Ripple currently owns 60% of the total XRP supply, with 91% of this investment locked up in escrow. It should be noted that due to the general trend in the market, the XRP rate has dropped by almost 10 percent in the last 24 hours, and its current price is $ 0.28 per coin.
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