National Bank of Egypt
Potentially, the growth prospect of XRP is associated with further implementation as a means of payment, as well as the continued development of the cryptocurrency market and the increase of its capitalization.
Among other things, Ripple has agreed on cooperation with the National Bank of Egypt. Now, this bank has joined RippleNet and will use the company's technologies for money transfers. The deputy chairman of the Egyptian national bank Dalia El-Baz has informed that the network of RippleNet includes more than 300 financial institutions worldwide and expects that the number of users will grow in geometrical progression. Also, she added that by means of network RippleNet, cooperation with a considerable quantity of new correspondents and conformity to requirements of existing clients will become possible, and also there will be a chance to involve new and to render faster and more qualitative services. She also said that the channels for receiving international transfers fully comply with international insurance standards and the requirements of all regulatory bodies, which ensure safety in operation.
The bank's Executive Director, Gada Al-Bili, also said that the agreement with Ripple would improve liquidity management mechanisms for both correspondents and the bank, making it possible to establish links in other countries such as the UK, the United States of America and Canada in order to provide efficient and effective services.
Bank Asia Limited
Bank Asia Limited, which is based in Bangladesh, became a member of the RippleNet network. The Bank uses Ripple xCurrent technology, the integration of which was carried out since the beginning of 2018. It was not known for some time how the integration process had been completed. But just recently there was official confirmation that the Bank of Asia is a partner of Ripple.
Ripple and the central bank of France?
The Bank of France mentioned Ripple in its report. This technology is mentioned in the report on the CBDC of the central Bank of France, which is responsible for supporting financial and monetary stability in the country. CBDC is a digital currency of a bank, whose attributes can be integrated into a digital asset that circulates in a block environment. The report states that there is a possibility that the Bank of France may use Ripple XRP Ledger as an auxiliary token. There are prerequisites that even the euro may switch to Ripple XRP Ledger in the future, as previously the head of the ECB said that the rate will be used to digitize the European currency.
