Ripple - Offers Reward Program for Banks That Decide to Utilize XRP

Ripple's announcement on October 10th that seven new banks had joined their network (bringing the total to more than 100 banks) was exciting. However, even more exciting was their announcement that a bank in Mexico, Cuallix, would be the first national bank to utilize Ripple's XRP coin as a way to make inter-country money transfers [1}. So to the naysayers that said no bank would ever adopt XRP here is where I get to prove you wrong. Of course Cuallix is the first bank to adopt this coin, but think baby-steps. I believe this traction will jump start the potential for other banks already on Ripple's network to consider picking up XRP much like Cuallix.

What I like even more, is Ripple announced today (October 13, 2017) that it would begin incentivizing banks in their network of 100+ banks to consider using XRP via their RippleNet Accelerator Program. In a nutshell, in case you don't want to read the article, banks that utilize this program will receive rebates on transactions processed with XRP in conjunction with Ripple matching any funds banks in their network spend in marketing monies to promote Ripple products such as XRP and the ledger software needed to join RippleNet [2].

Ripple is hosting their SWELL conference from October 16th through 18th. SWELL will be directing competing with SIMBOS which is huge. I anticipate there will be more exciting news to announce during this conference. If you enjoy investing in the crypto market I really believe XRP to be a solid investment. It is definitely a long hold that I'm predicting will have to be held for 7-10 years before it reaches maturity. However, I'm a patient person. It's not too late to invest at only .26 cents per unit as of this posting.

Happy investing everyone!

Sources

[1] https://bankinnovation.net/2017/10/ripple-blockchain-network-passes-100-members-xrp-to-be-used-as-liquidity-tool/
[2] https://ripple.com/insights/ripple-rolls-300m-ripplenet-accelerator-program-grow-volume-xrp-utility/