Ripple’s XRP has been added to the trading platform SMART VALOR, a prominent Swiss Company according to its published press release. Till now, the token is used in tandem with the US Dollar, Euro, Swiss franc, and pound Sterling.
— SMART VALOR (@smartvalorinc) January 31, 2020
SMART VALOR picked XRP due to its reputed market capitalization and popularity in the cross-border remittance sector. Moreover, XRP offers transactions at a pretty low fee and allows coins to transfer instantly.
The traditional transactions system in the banking sector takes an ample amount of time, which makes XRP’s cross-border remittance service a popular choice. XRP also allows the option of trading with multiple currencies at low-fee, whereas the existing system charges a considerable sum for these conversions. This is especially important for a small commercial bank which lacks access to multiple currencies.
Addition of XRP to the Smart Valor services is a sublime move as the demand for breaking global barriers and make transactions smoother, and low-cost is heightening. The value of On-Demand Liquidity transactions and the number of transactions in U.S dollars grew by 100 times and 390% respectively, during 3 – 4Q 2019.
Ripple hit rock-bottom in sales of XRP tokens when it fell by more than 80% during the fourth quarter of 2019.
The volatility of XRP has reduced significantly, the daily volatility was 3.1% in 4Q. The indicator around that time was 3.6% in the third quarter. XRP’s yield volatility is pretty much the same as the volatility of Bitcoin (3.0) and Ethereum (3.1).
Ripple’s XRP And Liquidity Demand Keeps Soaring
Ripple has paid a lot of attention on expanding its On-demand Liquidity affiliate network. A couple of months ago, a bunch of companies including MoneyGram, and Viamericas. On-Demand Liquidity allows cross-border payments using XRP tokens.
Recently, an online workplace that connects freelancers to employers around the globe, GoLance, has adopted a solution for enabling cheap payments and fast delivery services.