Ripple is very popular among financial institutions and banks for its multinational blockchain remittance service. Previously, Ripple has collaborated with a lot of famous banks and institutions around the globe. Also, recently the CEO of Ripple, Brad Garlinghouse has stated that the blockchain remittance company Ripple has signed over 30 deals in each quarter with banks and other financial institutions.
Garlinghouse has given this statement in ‘The Information’s annual subscriber summit’ which has held on Thursday, a source present at the summits confirmed with ‘The Block’. In their report, The Information recited the saying of CEO of Ripple about singing 30 deal/week, the source of Block said that it is not precise.
The further explanation about the Ripple deals per week is that if the company is signing 30deals/week, then in a year the total figure comes out as 1500. On the other hand, the spokesperson of Ripple also told The Block that the firm signs around 2 or 3 deals per week. On the other hand, the spokesperson of Ripple also told The Block that the firm signs around 2 or 3 deals per week.
As per the report of The Information, Garlinghouse also said that Ripple has a total value of around $305 million and the company has an amount in the bank in the form of cash. He further stated, “We don’t need to raise capital.” As per the CEO of Ripple, currently, the Ripple has around $15 billion of its own virtual currency XRP.
Ripple has collaborated with Finastra a fintech company previously this month, the service of its blitshain technology remittance through its RippleNet network. It started that it has more than 200 global financial institutions as it’s partners.
On the other hand, Garlinghouse also commented on Facebook’s stablecoin ‘Libra’. He said that
“I think that the way they approached it demonstrated, [from] my point of view, arrogance in how they rolled it out.”
He further said,
“I think Facebook did not appreciate the trust deficit they had.”
He also said that the project wouldn’t have received so much backlash if it was backed by any other payment company such as Pay Pal.