On the day when the crypto money markets were colored red, the news given by Ripple helped XRP to hold. XRP has actually been one of the best performers, with only 4.5 percent drop in the past 24 hours. Ripple’s good news may lie behind this performance of the XRP price.
Egyptian National Bank Annunciation by Ripple
Ripple announced a partnership with the National Bank of Egypt, Egypt’s largest bank. It was emphasized that a joint work will be carried out with LuLu International Exchange as well as the Egyptian National Bank. The two new partners will also transact on RippleNet and focus on Egypt’s payment channel.
It was stated that United Arab Emirates-based LuLu will offer brokerage services here and will help the payment channel between Egypt and the United Arab Emirates. It is a great development that especially the UAE, one of the richest countries in the world, and Egypt, which has one of the world’s most loaded remittance channels, prefer Ripple directly. The duo will use Ripple’s services for cross-border payments, thus enabling people to make transactions much cheaper and faster.
Ripple paid attention to developments in the Asia-Pacific region after the securities lawsuit filed against it. The step taken now has shown that not only this region but also other regions have been prioritized.