Ripple makes two more major partnerships as the altcoin has seen its price rise as the market recovers from the recent dip. The general cryptocurrency market has made gains of over $100 B from their lows of Tuesday which has seen Ripple gain over a 25% price increase since then. The company has also recently announced a partnership with a Chinese e-commerce company and an undisclosed Central bank.
Ripple just announced another partnership with a Chinese e-commerce company LianLian International, a leading Chinese money service company licensed in Hong Kong with over 150 million users.
“LianLian International is a leader in pay out experience both into and out of China, as evidenced by the large number of our merchants and partners,” LianLian CEO Arthur Zhu said.
This is an important partnership for Ripple as it opens Ripple into a $4 trillion global market as China is the market leader in this sector, with a projection of China gaining around $1.32 trillion of the market by the end of 2018.
Ripple will be offering LianLian real-time payment solution with the use of its xCurrent solution to provide cross-border payments between China, Europe, and the United States.
“Cross-border payments related to China’s e-commerce market reached $1.07 trillion in 2017. There is a huge opportunity to make these payments quicker and more cost-efficient… with RippleNet, LianLian International will now be able to give merchants and consumers quicker, more cost-efficient payments into China, which they weren’t able to before. We also look forward to connecting other RippleNet members to LianLian.” Emi Yoshikawa, director of joint venture partnerships at Ripple.
Partnerships like these are common and normal routines for Ripple as it boasts of over 100 institutional partnerships some of whom are either already using one of its products or testing them for potential use.
Today at Yahoo All Markets Summit, Ripple’s CEO also made another big announcement. He said Ripple will be partnering with a central bank though he didn’t disclose the name yet.
As Ripple makes two more major partnerships, do you think we can expect it to affect its price? Which Central Bank Ripple do you think Ripple is set to work with?
Let us know in the comment section