- Founder of TechCrunch told South Korean reporters that XRP is the best money transfer service around
- XRP is used by UBS, Santander and UniCredit
- Weiss Crypto Rating found that it’s not only Arrington who thinks XRP is the best
The founder of American tech industry news publisher TechCrunch told reporters that XRP is undoubtedly the best cross-border payments network around.
During a recent interview in South Korea, Michael Arrington was asked why he chose XRP as the denomination for his cryptocurrency hedge fund and the conversation touched on Arrington XRP Capital’s first deal. The deal, according to the interview, involved transferring $50m.
Arrington said: “Our very first closing was over $50m, and we moved that money in three seconds, and it cost like 20 or 30 cents to move that 50 or something million dollars. Bitcoin and Ether can’t compare to that.”
Arrington is not alone in thinking that XRP is the best. A survey done by Weiss Crypto Rating in July found that XRP is the best coin to send or receive money anywhere in the world
XRP Ledger is a remittance and currency exchange network that is also part currency. It was created by American fintech Ripple Labs.
Written in C++, XRP’s original authors are David Schwartz, Ryan Fugger and Arthur Britto. XRP is utilized by companies such as UBS, Santander and UniCredit through Ripple Labs’ software xCurrent and xRapid.
Ripple’s XRP has been making waves since its initial release in 2012. In July, Alibaba was rumoured to be using XRP to make international money transfers between Hong Kong and the Philippines faster. XRP is known for its speed, and the first transfer completed by Alibaba’s Jack Ma reportedly took only three seconds. Ripple’s partnership with Santander also resulted in the Santander app being able to reach the same speed.
Learn more about Ripple and Ripple’s XRP here.
