Does PNC Partnership Mean Ripple is Growing Up?

Amidst ongoing controversy that Ripple (XRP) is all show and no go, a new player has emerged that seems to have changed that perception, and possibly the whole market dynamic.

Since its inception, Ripple has come under criticism that the company was putting too much of its startup capital into marketing smoke and mirrors, and not enough into its own technology development, a critical component of their XRP cryptocurrency and their overall business model.

That all changed when international finance group, PNC, announced last week that they would begin processing international payments using xCurrent blockchain technology created by Ripple. And while the technology itself is not directly related to Ripple (XRP) cryptocurrency, the partnership does provide a measure of confidence and validation for Ripple’s organizational stability and longevity, which is good news for the company, and good news for XRP which surged 126 percent in just over a week.

.@PNCBank has joined the 100+ financial institutions on RippleNet. It’s one of the first major U.S. banks to use #blockchain tech to streamline payments into and out of the country. https://t.co/nckQaup9vZ

— Ripple (@Ripple) September 19, 2018

Ripple has one key mission – to integrate its technology with large payment providers and banks. A top-ten U.S. bank, PNC, announced last week that it would utilize RippleNet for its customers’ international payments. The company’s blockchain solution, xCurrent would be used to speed up the transaction.

Naeem Aslam – Forbes – Ripple Getting Ripped