Ripple (XRP) has been making headlines since giants like Moneygram, Fleetcor, and Western Union announced their preference for Ripple’s xRapid. The latest company that Ripple has reached a partnership agreement with is Spanish banking giant BBVA Compass bank.. The bank made the following statement regarding Ripple partnerships:
Our recent crypto tests on Ripple have been successful.
BBVA Compass is the unique dreams of every individual and company, Aims to create opportunities for a brighter future knowing that they have needs and wants. BBVA is the second largest bank in Spain.. The bank was founded in 1999 by the merger of Banco Bilbao Vizcaya and Argentaria.
XRP has been successfully tested by the bank to facilitate cross-border payments between various countries in Europe and Latin America.. These regions have a good economic presence for BBVA. At the same time, it is thought that these regions will contribute greatly to digital development.
BBVA Compass CEO Onur Genç is hopeful about Ripple partnerships and the future of BBVA
BBVA representatives ensure that each transaction is seamless. they stated that tests of money transfers that occur in some way only take a few seconds. Since many South American countries still use the financial infrastructure from the 70s, it is obvious that there is a great need for a new infrastructure to be established.
BBVA Compass CEO Onur Genç used the following statements in a recent interview:
We think something really big is going on in this industry and we want to be at the forefront. A successful series of moves can push BBVA to great heights in the US financial services industry.
Young also briefed on the Company’s vision and how BBVA will eventually expand into the US market.. Recently, however, the majority of financial institutions think that they either tout cryptocurrencies as junk or have a negative stance towards the cryptocurrency market.
Korean government and regulatory policies
Ripple CEO Brad Garlinghouse , highlighted regulatory issues in Korean government policies in a recent interview. And responding to the audience, Brad continued, saying that thoughtful regulation will help the industry mature:
Crypto prices still see volatility.. This situation can be considered as a reflection of the previous stages of market growth globally. In my view, there is no doubt that we will continue to need regulations to protect consumers and businesses.