Ripple, a US-based Blockchain Tech that majorly specialises on remittance and cross-border payments, is not relenting in the quest to stamp its authority in the industry that is globally competitive.
The San-fransisco based company that backs the third largest digital currency by market cap, XRP, continues to welcome more stern competitions on daily basis. In its quest to govern its domain in terms of expansion, it has recently resorted to increasing its workforce for global prominence.
Before authority can be maintained by a body in a territory that is filled with strong competitions, one has to initiate measures stronger than the incoming or well reinforced in-house pressure. This has brought Ripple into a situation where it has to suppress external pressure to remain as relevant as ever.
Recent Step Taken By Ripple to Ease Its Challenges for Needed Expansion
JPMorgan is in the same industry with Ripple, they seem sharing lots in the industry, but a seemingly bigger competition is around the corner, which would come from Facebook once it finally launches its much talked about cryptocurrency, Libra.
Ripple has begun putting suitable measures in place in readiness for the stablecoin that promises to be multifunctional. Global financial institutions are also already feeling uncomfortable as they ponder over the threat it’s capable of introducing into the world’s financial system due to its active users’ capacity.
In a publication, the company stated that it is recruiting in order to get more hands on deck as well as aid its growth and necessary expansion across the world.
The first thing on Ripple’s agenda is to recruit coordinator that will be in charge of the interview tagged as “high volume”. There are indications that the company is possibly expanding its staff capacity by 16 percent.
Ripple’s Partnership with MoneyGram Is a Big Deal
Arrival of JPMorgan, the world’s largest investment bank into Ripple’s designated payment industry, raised eyebrow a bit in Ripple community. After the former launched Quorum and its own version of cryptocurrency, JPM Coin, Ripple felt more challenged.
The company tried to put a host of things in place to maintain its competitive domination, but the proposed launch of Facebook’s digital currency seems more challenging than any other competition it has ever faced in the industry.
In the middle of the booming fame of Libra coin, Ripple announced a strategic partnership with MoneyGram. This is generally seen as a well-timed measure to put itself on the forefront in the industry, before the emergence of whatever utility Facebook’s GlobalCoin is bringing.
Striving to remain as relevant as ever is part of the features that makes a successful business, and Ripple seems to be on the right track. The fact that the company has not left XRP out of its big plans is a boost of hope for XRP community.
Ripple seems to have big plans ahead to remain prominently in control of the industry with the decision of mass recruitment of capable talents. However, the reason behind this significant decision has not been made known formally.
Ripple XRP in the Market
According to the belief of some crypto pundits and enthusiasts, the fact that Ripple XRP has not quite joined the present market price rally led by Bitcoin, seems to be a big sign that the digital currency would soon experience its bull run independently to shock the entire cryptocurrency sphere.
Actually, Ripple XRP price has been stable in the market. It hasn’t experienced a distinct uptrend or downtrend lately. At press time, XRP is trading at $0.3951, with 1.5 percent price deficit in the last 24 hours.