Ripple is actively improving the situation in the world, continuing to gain momentum. Ripple is making significant advances in financial technology. Ripple projects are quite popular and integrate into many companies. The development of Ripple does not stop. So, SBI Holdings invests in OpenLegacy for MoneyTap based on Ripple technology, and XRP shows new records for the liquidity index.
Ripple actively improves position: SBI Holdings investment in OpenLegacy
SBI Holdings invests in OpenLegacy for the MoneyTap application based on Ripple technology. The size of the investment is 20 million dollars. OpenLegacy is a microservice-based API provider for base systems. Its micro-service-based integration and API management platform reduces manual work by automating the creation of an API, bypassing the complexity of middleware, while increasing API productivity and therefore staff efficiency. A SBI Holdings press release stated that the investments were needed for two key tasks: creating Internet banking and promoting the MoneyTap application based on Ripple technology in Japan and around the world.
MoneyTap was launched in October 2018 by SBI Ripple Asia, a company established through a partnership between SBI Holdings and Ripple. The application allows real-time year-round internal money transfers between bank accounts using Ripple xCurrent, which allows users to make transactions in different currencies around the world. This reduces the costs associated with existing bank and ATM fees that are currently applied to domestic money transfers in Japan. Given the application of OpenLegacy to MoneyTap, the operation of the Ripple-based application should become even more reliable.
XRP Liquidity Index Records
Ripple XRP Liquidity Index Shows New Records. A particularly large increase in the Ripple XRP liquidity index took place between Q3 and Q4 2019, when such activity was exponential and amounted to 550%. Extremely good results were then in Mexico. However, in 2020, the Ripple XRP liquidity index continues to grow. Recently, all three corridors, namely to Australia, the Philippines and Mexico, recorded new highs. According to the Liquidity Bot Index, XRP / PHP exceeded the previous ATH to $ 4.47 million.
According to Alex Cobb, a Ripple XRP supporter, the corridor grew by 16%. The Ripple Mexican corridor was the oldest, and every day the XRP liquidity index gained new momentum there. Now there ATH is $ 16.25 million, and current liquidity is approaching ATH. The 24-hour volume of each of the corridors also noted growth. The Philippine corridor noted an increase of 556.67 thousand, the Mexican volume of 2.27 million, and in the Australian liquidity index Ripple XRP rose 109.58 thousand.