New startup Amore Finance joined Ripple Net to provide its financial services

Amore Finance, a startup of the Czech Republic has joined the Ripple Net. As published on local news portals, Startup Amore Finance, which will provide banking services, is the first in the Czech Republic to join this network.

 

 

 

The company is listed in the United Kingdom, registered with the Remdox Capital Group, originally a real estate developer, Ondrej Spodniak. The partnership is accompanied by the Czech IT technology company Cleverlance, a supplier of technological innovations for Czech banks and financial institutions.

It is not clear which of Ripple Net’s product they are going to use for their services. At present Ripple got 100+ banks and payment provider companies as customers on Ripple Net using  X-Current and X-Rapid worldwide.

Ripple Net benefits the customers by easily leverage the most advanced blockchain technology in global payments today, on-demand liquidity in cross-border transactions and operational consistency through a common framework. Customers have the option to source liquidity required for cross-border payments with XRP and enable instant payments to and from any country in the world.

As per recent released Q3 2018 XRP Markets Report, Ripple sold $65.27 million worth of XRP programmatically. In addition, XRP II, LLC a Ripple subsidiary that is a registered and licensed money service business (MSB) sold $98.06 million worth of XRP in institutional direct sales. In total, the company sold $163.33 million worth of XRP in Q3. The statistic is double that of the second quarter sales, that came in at $73 million. https://ripple.com/insights/q3-2018-xrp-markets-report/

This indicates the growing interest in XRP among customers. As X-Rapid is live with few payment providers and many are under testing, it will be no surprise that those who are using X-Current initially starts shifting towards X-Rapid as it is faster and cost-efficient using XRP.