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Ripple has been making significant progress, not only in the crypto markets but also in the global financial ecosystem as a whole. Now, as Ripple gets closer to regulatory clarity in the US following its legal victory against the SEC lawsuit, speculations are arising as to the potential for XRP to be recognized as legal tender.  A distant thought for sure, but what would it take for it to happen? Ripple’s Strategic Partnerships Although Ripple has been involved in a major lawsuit in the US for a few years now, it didn’t stop the firm from signing over 1,700 agreements with financial institutions worldwide. The goal of these agreements was to embed XRP in the global financial system. The partnerships have diverse geographical reach, including South America, Europe, and Asia.  BOOOOOOOOOOOOOOOOOOM!!!! Over 1700 NDA’s between @Ripple and MAJOR banks, financial institutions, and companies! #XRP is going to be the most valuable asset in the world because it will bridge value globally! 👑 pic.twitter.com/xA2thWZ9TJ — JackTheRippler ©️ (@RippleXrpie) August 18, 2024 Most notably, the Bank of Colombia and Montenegro’s central bank are testing central bank digital currencies (CBDCs) on Ripple’s platform. While Montenegro’s economy stands at a modest $ 8 Billion USD, the size of Columbia’s economy is massive, standing at around $400 Billion which makes it a top 40 country in the world. Becoming an aggregator for CBDCs in such large economies can be used as a case study for smaller economies, too.  Additionally, Ripple’s partnership with Germany’s DZ Bank and Brazil’s Fenasbac shows that XRP can be used in multiple ways in the modern global financial infrastructure. Ripple’s influence can be seen in Asia and the Middle East, too. They have partnered with SBI Holdings to enhance cross-border remittances across key markets such as Vietnam, the Philippines, and Indonesia.…

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Filed under: News - @ August 29, 2024 11:26 am