Bitcoin rival Ripple finds a new home in National Bank of Abu Dhabi

We have seen some shakeup in the cryptocurrencies world over the last week. Some cryptocurrencies have seen a swing for more than 50% only in the last week. Most of the investors focus on Bitcoin and Ethereum but we have a new hero in the town:RIPPLE.  Ripple is now the third-largest market capitalization currency in the crypto industry which is designed for seamless transactions that can be settled by banks in real time.Ripple built a digital payments network for real-time financial transactions. 

National Bank of Abu Dhabi will use Ripple protocol for some of its Cross-Border Transactions, This will help both the  banks and individual customers in reducing transaction fees and will drastically reduce the time of transaction settlement. The Bank has indicated a particular interest in enhancing the experience of its customers, and bank leaders seem to have agreed that blockchain technology can be a useful way of doing this. When it comes to selecting from different blockchain technologies, Ripple has won out, and perhaps for good reason. Ripple is focused on facilitating cross-border transactions and may be used to complete transfers.

Ripple technology has gained increasing levels of attention in recent months as banks around the world have shown interest in its real-time payment flows. It is likely that other banks will be watching the results of the Abu Dhabi integration carefully to see how Ripple's distributed ledger system holds up under pressure.

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