- A popular crypto influencer spotted that VISA is working with four Ripple partners for the last few years.
- Despite its battle with the SEC, Ripple continues to expand its XRP on-demand liquidity solution in global markets.
Post the SEC’s lawsuit against blockchain firm Ripple back in December 2020, several big players refrained from collaborating with Ripple in order to avoid the heat of the SEC. However, the latest news in the two is that payments giant VISA has been working with Ripple secretly.
Pseudonymous XRP Influencer 24HRSCRYPTO recently shared a video making the recent claims. As per the crypto influencer, VISA has been working with at least four Ripple partners over the last few years. This mode of working has either been through partnerships or via a complete acquisition. The influencer notes that if true, it could be a bull-case scenario for Ripple.
Visa silently working with #ripple.. nothing to see here #XRP is going to FLY past $100 and that will have all the skeptics in SHOCK
#XRPHolders #xrpthestandard #XRPArmy pic.twitter.com/J935Dbxm4z— 𝟸𝟺𝙷𝚁𝚂𝙲𝚁𝚈𝙿𝚃𝙾 (@24hrscrypto1) February 6, 2023
Some of the partners that Ripple has been working with include Dee Money, Earthport, CurrencyCloud, and Novatti. From these fours, VISA has completely acquired Currency Cloud and Earthport. On the other hand, it has entered into partnerships with Novatti and Dee Money.
However, the two companies completely acquired by VISA no longer appear on Ripple’s customers’ page. Additionally, the partnerships seek to expand Ripple’s footprint and reach of Visa’s proprietary cross-border payment solutions without any mention of Ripple and XRP.
It is difficult to claim that VISA is actually working along with Ripple. But the crypto influencer noted that if the news that Ripple and VISA are working together is true, the XRP price can skyrocket all the way to $100.
Ripple’s XRP On-Demand Liquidity and VISA’s Stablecoins Push
Despite several markets as well as regulatory hurdles, Ripple highlighted in its “Q4 2022 Markets Report” that the firm’s on-demand liquidity service for XRP has further expanded to 40 payout markets. In Ripple’s ODL solution, XRP serves as a bridge cryptocurrency to facilitate instant cross-border payments.
Ripple’s development with ODL solutions comes despite its ongoing legal battle with the US Securities and Exchange Commission (SEC). Additionally, the XRP Ledger is also building new use cases to leverage the scalability of the network. This includes building an Ethereum-compatible virtual sidechain, NFTs, a native automated market maker, and Hooks for native smart contracts.
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On the other hand, VISA is also working on supporting digital asset transactions on its platform. As per VISA’s head of crypto division, VISA is building a “muscle memory” for settlements between crypto assets and fiat currencies on the platform.
“We’ve been testing how to actually accept settlement payments from issuers in USDC starting on Ethereum and paying out in USDC on Ethereum. So, these are large value settlement payments,” he added.
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