Ripple to Be Welcomed by US Government, Infers Brad Garlinghouse from Steven Mnuchin’s Speech

News
Tue, 01/21/2020 - 11:22
Yuri Molchan
During the WEF in Davos, Steven Mnuchin stated that the US government welcomes companies like Ripple, without using names, concludes community from Ripple CEO’s tweet
Cover image via www.youtube.com
Contents

At the World Economic Forum 2020 in Davos recently, the US Treasury Secretary Steven Mnuchin stated, when answering questions, that the US government welcomes cross-border payment companies that make transactions both for retail and business customers cheaper.

Image via Twitter

The community now believes he was talking about Ripple too.

Image via Twitter

Will Ripple be welcomed officially?

In his responses, Steven Mnuchin mentioned only MoneyGram, but since his statement was shared by the Ripple CEO Brad Garlinghouse on his Twitter page, some in the XRP community concluded that US regulators are basically ready to acknowledge and support Ripple as part of the innovated financial and banking system.

Besides, all that Mnuchin said about these cross-border remittance systems does apply to Ripple:

"There are benefits to cross-border payment systems in lowering costs for consumers and businesses. We absolutely support companies working on this."

Related
XRP Liquidity Index on Bitso Hits Another ATH – Will MoneyGram Set Corridor to UAE?

Ripple signs up more big-name partners to its network

As time goes by, many large global banks and giant payment platforms are starting to feel the need for innovation to retain their customers. A great deal of them have chosen Ripple as their partner in this area.

In 2019, Brad Garlinghouse boasted that around 300 new partners had boarded Ripple, including major banks, such as Santander and others of a similar scale. Not all of them are using XRP, though. They are just utilizing Ripple’s xCurrent technology for faster transactions.

From remittance platforms, the largest to join Ripple so far has been MoneyGram, who has been using XRP widely. As per its CEO Alex Holmes, around 10 percent of all the transactions (back in the fall 2019) went to Mexico with the help of XRP.

The use of the coin was one of the conditions on which Ripple made several large investments in MoneyGram last year.

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy