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RippleNet Is "Actively" Utilized by Curacao's Top Bank, Vidanova

Mon, 06/06/2022 - 15:28
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Tomiwabold Olajide
RippleNet connects banks, payment providers, digital asset exchanges and corporations
RippleNet Is "Actively" Utilized by Curacao's Top Bank, Vidanova
Cover image via unsplash.com

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A top Curacao bank, Vidanova, states its partnership and usage of RippleNet on its official webpage, where it says, "Vidanova Bank provides access to RippleNet, the decentralized global network of banks and payment providers...With this technology, you can message, clear, and settle financial transactions in real-time."

Additionally, Vidanova, a financial service provider located in Curaçao, an island in the Caribbean Sea and a country within the Kingdom of the Netherlands, also utilizes SWIFT alongside Ripple for international payments.

It speaks of RippleNet thus: "RippleNet connects banks, payment providers, digital asset exchanges, and corporations...With the most advanced blockchain technology for global payments, financial institutions are able to execute transfers to a growing number of institutions."

As previously covered, Q1 2022 was a record quarter for Ripple's remittance platform On-Demand Liquidity (ODL) as volumes increased with nearly 8x YoY growth. In total, RippleNet saw a $15 billion annualized payment volume run rate, marking unrivaled growth as ODL use cases continue to expand.

Expectations ramp up for Tuesday's conference call

U.S. Magistrate Judge Analisa Torres scheduled a conference call for Tuesday, June 7, at 3:00 pm EST, to "discuss the SEC's renewed assertion of attorney-client privilege as to internal documents related to thenxDirector Hinman's June 14, 2018 speech," as previously reported.

The conference call is slated for Courtroom 23B, Daniel P. Moynihan Courthouse, 500 Pearl Street, New York, New York. Members of the public may now listen to the proceedings via the call-in numbers provided in the brief shared by defense lawyer James K. Filan on Twitter.

In the previous month, CryptoLaw founder John Deaton filed a motion to participate in an expected challenge to an expert who claimed to know XRP holders' motivations when purchasing XRP. The SEC's objection to this motion is also due by June 7 (the date of the conference call), and any response to the objection is due by June 10, 2022.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.