Ripple Becomes The Second Most Valuable Cryptocurrency

The second most valuable cryptocurrency behind bitcoin recently has become Ripple.

The financial institutions that exist have links to Ripple. The digital asset having been set up to increase the transactions speed between banks. Among the 100-plus banks which have been signed up to use the payment system are The Bank of America and UBS.

The overall value of Ripple rose to more than £74 billion over the weekend after three Japanese credit card companies signed up to use it to handle payments and South Korean and Japanese banks announced a pilot project to use it to handle cross-border payments.

The value of each Ripple coin currently worth about $2,3 in comparisom with last year’s 0,5 cent. The price of Bitcoin is nearly $13,500.

Ripple has a difference from other digital coins, such as Bitcoin. It is not mined by network members. The network is used increasingly and the tokes are being created.

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