Ripple seriously considering entering the US market

On the first day of the World Economic Forum 2020 in Davos, the secretary of the American Funds supported the request for cross-border payment solutions faster, and also said the United States would support companies that offer such services, like Ripple.

The World Economic Forum 2020: a major event for the United States

Ripple is currently engaged in a serious legal battle. However, that doesn't stop the company from being quite positive about its future. Indeed, the World Economic Forum 2020 was launched on January 21, in Davos, Switzerland. As expected, the biggest world leaders met, on the first day of the event, the secretary of the American Funds Steven Mnuchin, who gave his opinion on the transformation of the payment industry.

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Mnuchin said the US government is well aware of new market developments. In addition, he added that the government will welcome businesses offering cross-border payment services for individuals and businesses. The secretary then said:

“Cross-border payment systems have cost-saving benefits for consumers and businesses. We absolutely support companies working in this field ”.

Ripple enthusiastic about future American association

Mr. Mnuchin's words quickly resonated with some experts in the cryptocurrency industry, particularly for Brad Garlinghouse, CEO of Ripple. The latter hastened to retweet Mnuchin's statement, showing his optimism that Ripple can facilitate the demand necessary for the evolution of the payments industry.

You should know that Ripple has worked in recent years at the rationalization of cross-border payments. In addition, the company has different blockchain-based payment solutions. The Ripple's xCurrent solution operates its blockchain to facilitate instant cross-border payments at a very low cost.

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Some of the big money transfer companies like Western Union and MoneyGram then committed to using Ripple's blockchain solutions. In addition, Ripple has another solution called ODL that uses XRP for instant payment settlement.

However, it is worth remembering that Mnuchin did not explicitly mention Ripple during his speech. This craze on the part of Garlinghouse is due to the declarations of Mnuchin and the fact that the American government can welcome Ripple for at the time of the next evolution of the payments of the United States.

Mncuhin did not take the name of MoneyGram as an example. In recent times, several giants of the banking sector have worked extensively to adopt next-generation payment technology and transform its systems.

New partners, but a long way to go

In 2019, Ripple claimed to have integrated 300 new partners to its platform. This includes some of the new banks and also some banking giants like Banco Santander, based in Spain.

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As Ripple continues to enter the payments market, the company has been placed on surveillance. Ripple has been accused by some XRP investors of not having sold his tokens as registered securities during his Initial Public Offering in 2013, which Ripple firmly defends himself from.


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