Tokyo, Japan – Due to the continuous spread of the coronavirus pandemic, many businesses experienced the biggest economic shock, including XRP. Many developed countries’ bond yields also dropped sharply, and institutional investors were put into a challenge.
However, as the states gradually reopen for business, many economists and experts expect partial healing on XRP. All cryptocurrencies are regaining their powers back and sustaining above their immediate support levels.
As XRP starts to increase again, it is getting more popular among e-sports and online gamers worldwide. The latest player who moved to crypto is a professional Super Smash Bros gamer named Kengo “Ken” Suzuki. He became famous for playing crossover action-fighting game, including the famous Super Smash Bros. According to the player, he signed a contract with SBI e-Sports, a Japanese gaming arm, and eventually became the world’s best Sonic player.
According to SBI’s official announcement on October 15, 2020 (Thursday), Ken is now part of SBI e-sports’ latest SSSBU division. Therefore, Ken will receive his salaries through XRP instead of the local Japanese Yen. SBI reported that they want to establish a crypto-focused venture to promote quick and safe exchange procedures.
Since Ripple accounts offer a fast, secure, and versatile payment platform, Ken gladly confirmed that he now belongs to the SBI e-sports’ SSBU division. With XRP, he can transact without government intrusion or bank participation. The exchange fees are also more reasonable, nothing in comparison to other cross-border payments.
2020 may not be an excellent kick start for Ripple, but it continuously builds a reputable name in the cryptocurrency industry. According to experts, it has gained over 150 percent of its starting price in January 2020. XRP also received a little price recovery in May after struggling to sustain little gains from February to April.
Undoubtedly, XRP remains as a well-trusted and reputable cryptocurrency worldwide. Since it serves as a mediator that settles transactions from PayPal and Swift, e-sports players like Ken no longer have to experience costly endeavors that tie up resources when processing international payments. It is an excellent platform to free up capital and guarantee the most competitive rates available today.
Now that Ken uses XRP in receiving salaries, he can finally take away the need for pre-funded Nostro accounts. For instance, with XRP, a US bank can transfer USD for XRP, then XRP to Japanese Yen, in a fraction of cost and time. Rather than taking up to five days and over $30 for processing, it will only take Ken around ten seconds and cost a minimal fee.
Adam is a passionate cryptocurrency writer.
