Ripple, known to be the biggest blockchain protocol to be targeted at banking institutions, is making efforts to overtake the majority of the finance sector in India through low-fee transaction processing and implementation of sophisticated systems.
As of yesterday, Ripple coin was worth approximately 0.44 US dollars, and its highest ever price reached 3.00 US dollars. The representatives have announced a 2 billion XRP giveaway to the entire Indian nation, speeding up the XRP introduction process for India and stimulating the utilization of the digital currency.
The total giveaway amount is worth approximately 900 million US dollars, which, on the basis of the all-time Ripple’s value, could boost the total sum to the amount of nearly 7 billion US dollars.
Securing the finmarket of India, along with provision support for the underbanked population, according to Ripple’s initial intentions meant giving away almost 900 million US dollars’ worth of Ripple coins, as well as expenses connected with such a large-scale distribution. Thus, the company has opted for another solution on the form of strategic cooperation with India’s biggest baking institutions.
Should Ripple manage to establish a platform, interconnecting banking institutions and billions of Indian customers, the value and efficiency of Ripple’s xRapid and xCurrent could dramatically increase.