On Friday, December 29, Ripple weighted average rate for the first time exceeded $ 1.50, and the capitalization of the cryptocurrency amounted to $ 59 billion, exceeding the similar indicators of technology companies such as Uber and Didi Chuxing. This is reported by CCN.
“Ripple’s total addressable market is $ 5 trillion per day in cross-border transfers (now through the SWIFT system). It’s about a quadrillion dollars a year. Ripple technology, I do not mean crypto currency, is something much larger than Uber,” believes Ophir Gotlib, CEO of Capital Market Labs, referring to the potential of technology in the Asian region.
First of all, behind the rapid rally of XRP is the introduction of technology by 90 banks in South Korea and Japan.
However, you should not evaluate the value of the asset, based solely on its potential and the total addressable market, because Ripple has not only not replaced SWIFT, but has not taken a significant position in the field of cross-border transfers.
Earlier reported that SBI Ripple Asia will create a consortium jointly with Japanese issuers of bank cards to introduce blockchain-banking innovations.