Ripple has garnered more international support in the form of a leading bank in UAE as well as Dubai’s top cryptocurrency exchange BitOasis.
Speaking about BitOasis first, the exchange has said they will enable XRP trading later this week. The Dubai exchange feels now is a good time to introduce traders to this particular asset. The new trading markets will go live on January 30th. Customers can buy the XRP token using AED wire transfers or UAE-issued credit cards.
According to BitOasis, there is an increasing demand from customers to trade and buy XRP. Considering how this exchange is one of the biggest platforms in the region right now, they have to set a precedent.
It is certainly possible other companies will follow this example in the coming months. Global demand for Ripple’s asset is soaring despite the current lower price. It’s good to see BitOasis come back so strongly. Earlier this month, they faced issues with Emirates NBD blocking transfers to this platform.
UAE’s RAK bank has also shown a keen interest in this company. Thanks to a new partnership, both entities will use blockchain technology for instant payments to India. Ripple’s ecosystem, known as RippleNet, has a lot of promise in this regard. Enabling live retail remittance payments to Axis Bank users in India is an interesting option to explore. Furthermore, this is another validation of what Ripple is trying to achieve.
The world of international payments is undergoing many different changes. Using blockchain technology is the next logical evolution in this industry. RAK Bank aims to launch instant, frictionless, and secure money transfer services to India’s Axis Bank customers. Only time will tell if they can be successful in this regard. Axis Bank is also one of Ripple’s partners since January of 2018. They are also using into using RIppleNet for cross-border remittance.