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Ripple Builds New Product With PayString Trademark

Jamie West by Jamie West
November 14, 2020
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United States – Ripple Labs Inc. has confirmed its new trademark with PayString. PayString trademark registration is essential for electronic financial services, such as disbursing and receiving monetary gifts and remittances. Ripple uses PayString for transferring fiat and virtual currencies over a computer network.

Since the launch of XRP Ledger in 2020, the San Francisco-based firm has already established dozens of partnerships with prominent banks worldwide. Following the recent launch of Line of Credit, Ripple has announced its new PayString trademark that was submitted last November 6, 2020.

Many XRP enthusiasts believe that Ripple is currently developing new technology or product that might be suitable for e-commerce. Currently, Ripple’s XRP has overcome many obstacles and enables the company to raise new capital quickly through the XRP Ledger.

In the past weeks, Ripple released several headlines, including the massive increase of the average daily XRP volume. The headlines show a significant boost in Ripple’s sales, especially in adopting the On-Demand Liquidity.

Many critics speculate that Ripple is again working on a new interesting product. Since “PayString” has similarities to “PayID,” the trademark might also act as a universal payment identifier with a free standard. PayString’s goal might focus on increasing interoperability between different networks. Some claim that PayString can function like PayID, a standardized format that supports over 40 globally active companies, especially in e-commerce.

Currently, Ripple is the fourth most valuable Fintech company worldwide. The firm recently launched a new product called “Line of Credit,” which allows ODL customers to take out credits using XRP. This new product can help hundreds of companies overcome financial obstacles and raise better capital more conveniently using the XRP Ledger.

News reports yesterday confirmed that Ripple would continue to rise in the next months. The company is currently worth $10 billion, which is $2 billion ahead of Coinbase and $2.4 billion ahead of Robinhood. The latest release of several Ripple products enables RippleNet customers to raise capital on demand. Many critics claim that the community has a huge impact on XRP’s excellent performance.

Ripple assures the public that they will soon expand more services to more markets and customers worldwide. Through the latest Line of Credit, more people can manage their day-to-day businesses and reach more customers quickly.

With PayString, Ripple can release a reliable payment service that is essential for receiving and transferring remittances and exchanging fiat currencies and virtual currencies in real-time.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: cryptocurrencydigital assetPayIDPayString trademarkRippleRipple XRPvirtual currencyXRP
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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