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Ripple, the company behind popular cryptocurrency XRP, has been announced as an official partner of a key subgroup under a Bank for International Settlements (BIS) committee. This could be a massive development in the company’s pursuit to create a crypto ecosystem between central banks around the world.
<b>Ripple Named As Key BIS Committee Partner</b>
This announcement comes at a time when the altcoin is back to being in bullish space thanks to the recently delivered Summary Judgment in the Ripple lawsuit against the U.S. Securities and Exchange Commission (SEC). The judgment effectively said that the token can not be deemed a security if it is sold through an exchange or through programmatic sales for retail buyers, while the previous judgment holds when it comes to institutional sales.
According to the announcement, Ripple is now an official partner of the ‘Cross-border payments interoperability and extension taskforce’. The taskforce is a subgroup within the Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures. The BIS announcement comes just few days after Michael Miebach, chief executive officer at payments company Mastercard, revealed that his company is in collaboration with the likes of Ripple in relation to a new central bank digital currency (CBDC) partner program.
<b>What Next For XRP Price?</b>
Meanwhile, the XRP price saw significant volatile trend in the last few days, thanks to the recent developments like the SEC’s filing for interlocutory appeal in the lawsuit against Ripple. Earlier, CoinGape reported that traders could be rewarded if they hold on until the token hits a target of $0.62 next. Compared to the beginning of the year 2023, the XRP price jumped by a whopping 54%, compared to the 58% jump in Bitcoin price during the same period.
<img src="https://cdn.coingape.com/wp-content/uploads/2023/07/07230935/Ripple-Funds.jpg">
Cryptocurrency exchanges review:
#1 <a href=https://www.okx.com/join/ETHEREUMPRICE>OKX</a> - 24h Volume: $ 1 097 255 972.
OKX is an Hong Kong-based company founded in 2017 by Star Xu. Not available to users in the United States.
#2 <a href=https://partner.bybit.com/b/buy_and_hold_Bitcoin>ByBit</a> - 24h Volume: $953 436 658.
It is headquartered in Singapore and has offices in Hong Kong and Taiwan. Bybit works in over 200 countries across the globe with the exception of the US.
#3 <a href=https://www.gate.io/signup/BVRBAwhb?ref_type=103>Gate.io</a> - 24h Volume: $ 643 886 488.
The company was founded in 2013. Headquartered in South Korea. Gate.io is not available in the United States.
#4 <a href=https://www.mexc.com/ru-RU/auth/signup?inviteCode=1S6zq>MEXC</a> - 24h Volume: $ 543 633 048.
MEXC was founded in 2018 and gained popularity in its hometown of Singapore. US residents have access to the MEXC exchange.
#5 <a href=https://www.kucoin.com/r/af/QBSY9291>KuCoin</a> - 24h Volume: $ 513 654 331.
KuCoin operated by the Hong Kong company. Kucoin is not licensed to operate in the US.
#6 <a href=https://www.huobi.com/invite/en-us/1f?invite_code=9pp93223>Huobi</a> - 24h Volume: $ 358 727 945.
Huobi Global was founded in 2013 in Beijing. Headquartered in Singapore. Citizens cannot use Huobi in the US.
#7 <a href=https://www.bitfinex.com/sign-up?refcode=69dnLE0LE>Bitfinix</a> - 24h Volume: $ 77 428 432.
Bitfinex is located in Taipei, T'ai-pei, Taiwan. Bitfinex is not currently available to U.S. citizens or residents.
My bitcoin-blog: https://sites.google.com/view/my-crypto-jam/
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