Ripple co-founder, Chris Larsen just found his way onto Forbes’ 400 List.
With nearly $2.1 billion, he’s ranked 383rdof the wealthiest in the world. Most of that comes from his possession of nearly 5.2 billion XRP tokens, and a 17% share of Ripple Labs.
Granted, his worth did drop a bit with Ripple’s fall from $3.50 to less than 30 cents. But he’s likely to recoup much of the loss, as the coin shows signs of life.
Ripple Catalysts for Growth
For example, SBI Ripple just launched its blockchain-based money remittance app that may dominate Japanese bank transfers. The app, referred to as MoneyTap helps people make real-time, free domestic transfers. All while using Ripple’s xCurrent payment solutions.
The xCurrent network, built on Distributed Ledger Technology (DLT) helps facilitate quick payment settlements and end-to-end tracking.
In fact, in Japan alone, 61 banks support the new application. Some of those banks include Suruga Bank, SBI Net Sumishin Bank and Resona Bank. With the technology, banks can perform cheaper, quicker transfers between other banks, for example. All with the use of a QR code or with a recipient’s phone number.
The Banco Santander Catalyst
In addition, Banco Santander jut launched a mobile payments solution. All powered by RippleNet, too. This is big for three reasons. One, Banco Santander is the world’s ninth largest financial institution by revenue. Two, it’s the biggest bank in the Eurozone. By launching its own blockchain solution, this is milestone news. It’s a catalyst that could very well spearhead the adoption of blockchain in the financial sector.
Three, we can’t forget we’re seeing a good deal of Ripple adoption.
More than 100 financial institutions have adopted Ripple and are in the process of benefiting from its blockchain solutions. A division of PNC Financial Services Group Inc will also use technology built by startup Ripple to process international payments. This could very well be a precursor to the use of blockchain in the world of finance.
Larsen could Move up on the Forbes 400 List
With XRP progress, Larsen could quickly move up the Forbes list. Especially if the coin can move back above $1 for the year.
Want the latest crypto news? Join our Telegram Channel