World Economic Forum (WEF), the international organization for public-private cooperation, has flaunted Ripple, the leading cross-border payment service provider and blockchain solution company, as its official partner. It also emphasized that Ripple is doing for value what the internet did for information.
The independent and not-for-profit Forum, which strives to demonstrate entrepreneurship in the global public interest, noted on its website that its choice of Ripple is because the San Francisco-headquartered crypto company is adding value to financial services worldwide.
The WEF added that Ripple brings forward developments and offers solutions capable of catalyzing a new digital economy for governments, businesses, and consumers. The blockchain company, therefore, enables global financial businesses and institutions to unlock greater economic opportunities for everyone.
According to the World Economic Forum, “Ripple is doing for value what the internet did for information: enabling its instant and seamless flow around the world. Using blockchain and cryptocurrency technology, Ripple is dedicated to creating powerful gains in financial efficiency, equity, and inclusion.”
Above all, this development shows that Ripple is still regarded as a reliable crypto company despite the ongoing XRP lawsuit filed against the company by the United States Securities and Exchange Commission (SEC). The SEC led by Gary Gensler contends that the digital asset was sold as an unregistered security.
XRP is the digital token used by Ripple to power On-Demand Liquidity (ODL) solution. Recently, XRP whales have been moving massive amounts of the digital token, XRP, between top crypto exchanges and unknown wallets, despite the unfavorable market trend.
Read More: Ex-SEC Attorney Shares Reason Why XRP Should Be Treated Like Bitcoin and Ethereum
RippleNet Adoption Grows
Ripple has joined hands with numerous financial institutions and banks around the world to foster cross-border payments.
It is worth noting that Ripple’s solutions and financial technology are being utilized in over 50 countries as the crypto company continues to enhance the real-world application of blockchain technology.
Read Also: Over 500 Million XRP Shifted Within 48 Hours Amid Market Downturn
Earlier this month, Ripple invaded Brazil as it appears to be a ripe ground for its services. The first exclusive bank for foreign exchange transactions in Brazil, Travelex bank collaborated with Ripple to facilitate customers’ access to international money through several services including remittance and international payments, ATMs, multi-currency prepaid cards, etc.
Courtesy of the RippleNet technology, the company is transforming how money is being transferred globally and with lesser charges. Little wonder why the World Economic Forum (WEF) has embraced the blockchain company. Also, Fortune Magazine, the global media organization, recently ranked Ripple among the top 50 Best Medium Workplaces in 2022.
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