Feb 19, 2020 07:00 UTC
Feb 19, 2020 at 07:00 UTC
Banks seem to absorb crypto for a better future
With promising infrastructure in the Blockchain space, there are a lot of different methodologies and algorithms that prove to be powerful. Some of the biggest and rarest methodologies that we see in the space is that all these algorithms are slowly being adapted to friendly environment of the banking sector.
Why do banks want to involve in crypto trade?
Many international and national banks feel that there is an added advantage in using such service networks. They feel that when the financial core is run and backed up by heavily structured algorithms and process, it will maximize productivity in the transactions as well add a security value to the amounts that are transferred.
The recent partnership
Recently, Bank Asia joined hands with Ripple to integrate their services on the Ripple network. They feel that Ripple’s network analysis and structure flow is rigid enough and a much needed boost for their business as of now. However the word around the news was at high altitude not until recently, Twitter posts from a user had Bank Asia’s logo on Ripple documents clearing the air around.
The Bangladesh based bank seem to have cracked the code on improving their efficiency in cross-border payments. The bank that has assets worth nearly $3.5 billion in cash can surely boost that to a much more significant valuation at the end of the integration process.
Now the delicate movement to Ripple’s service provider network is to make sure that the bank is able to handle assets at its peak capacity. In recent times, the trajectory asset handling of the company reached nearly a $610 million valuation. With that value expected to sore up, it is no wonder the bank is looking for managing growing demands.
The network from Ripple is capable of handling such valuations and even if it were to increase the pay load would definitely be evenly distributed provided Ripple’s network becomes up and running.
All these are adding more value to the Ripple network and the list just keeps on cascading. There is a recent tip off that the bank of Egypt has also approached for a partnership with Ripple’s network to facilitate the cross-border transactions the bank would be currently dealing with.
One more of the lot is that this has implemented a very good performance image of Ripple’s network and with the cards played right, it might be a steady push that would launch the company forward.