Payment processing company Bottomline Technologies is the latest one that is testing the Ripple’s remittance network.
According to Laurent Laborde, Solution Architect at Bottomline Technologies, the company is updating its software-as-a-service (SaaS) model to implement disruptive technologies including Ripple. SaaS is a software distribution model where a third-party hosts applications and then makes them available to customers.
“Fundamental part of the move of our SaaS to the current disrupting technologies in the financial market: API-based payments, Ripple,” reads the recent update on Laborde’s page.
Expanding the Network
The San Francisco-based blockchain startup, Ripple builds software to process faster and cheaper cross-border remittances. An alternative to Swift, already over 300 banks and financial institutions including 38 of the world’s largest ones are part of its RippleNet solution across 40+ countries.
Ripple’s On-Demand Liquidity solution meanwhile allows its customers to use the digital asset XRP to move funds across the borders.
An innovator in business payment automotive technology, Bottomline helps companies make a payment process simple and secure. It processes trillions of dollars in payments every year and has partners like Carte Blanche Group, Parkinsons UK, Shepherd Center, Quantum Advisory, and First Command.
The 12 largest US bank, Citizens Bank that has over $131 billion in assets is also a Bottomline partner.
And Another Addition
Kuala Lumpur-based payments Tranglo is also integrating Ripple’s remittance technology. The Southeast Asian fintech company started implementing RippleNet in November last year, according to Tranglo’s project manager Estee Lau.
Earlier this month, the company announced a partnership with the largest mobile payment platform, Alipay to “facilitate seamless cross-border remittances” for quick and secure money transfers within the app.
Meanwhile, Large Amounts of XRP Moved
Amidst the inclusion of these new partners and US Treasury Secretary speaking in favor of Ripple, XRP price has taken a beating of 3.73% in the past 24 hours while trading at $0.225 as Bitcoin slides down.
It is possible the large amounts of XRP moved from the South Korean exchange to an unknown wallet is responsible for this. This wallet has received a whopping 212,000,000 XRP since Dec. 30.
Whale Alert says, “The receiving account (TO) in this XRP transaction forwards to an account that is either selling or redistributing to various exchanges.”
Good things come to those who wait
Whether this wallet is responsible for XRP price or not, it is heading lower according to trader Credible Crypto.
The third-largest digital asset may go one leg lower but Credible Crypto points out how last time it took 715 days to come out at the top. “Those that waited were rewarded with 600x+,” said the trader about the best performing asset of the 2017 bull market.
Although he cautions that the same magnitude of returns isn’t expected, we “can expect another cycle like the prior one.”
