In other news, the XRP token is still struggling against the USD. At the time of writing, the price of the XRP token was $0.249373. It is up by 2.98% against the USD and up by 3.20% against Bitcoin BTC.
The trading volume over a 24 hour period was $2,369,772,462 and the market capitalization was $11,232,339,674. The token is far from the $0.30 resistance which needs to clear if it is to make any significant progress near-term.
We look forward to participating in the foundation’s efforts to engage and involve local developers and entrepreneurs-and to collaborate with central banks, financial institutions, and non-governmental organizations (NGOs)-in harnessing the power of the Mojaloop platform to improve payment ecosystems.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Ripple has made another expansion move with the Bill and Melinda Gates Foundation by joining the Mojaloop Board
- Mojaloop already has Major tech players on board including Google, PhonePe, and ModusBox
- Ripple XRP continues to stall against the USD and Bitcoin
Yesterday, the Mojaloop Foundation announced that Ripple is now one of its key sponsors as the blockchain firm joins the greatest level of the organization. This is Ripple’s latest move and it solidifies the company’s partnership with the Bill and Melinda Gates Foundation.
It is also part of a larger expansion plan that Ripple has put in place. Ripple isn’t the only company that joined the board yesterday. The leading digital payment platform in India, PhonePe, also joined the board of the Mojaloop Foundation. Ripple has joined major tech firms like Google, ModusBox, Coil, Omidyar, and Rockefeller.
What Does Ripple’s Role with Mojaloop Entail?
According to Mojaloop, Ripple’s experience will make things better for them. Part of the press release was as follows; “the strategic vision, corporate governance, and technical guidance to ensure the long-term health and growth of the Mojaloop open source software and development community.” The Mojaloop Foundation is devoted to promoting financial inclusion by allowing companies to create interoperable payment systems for digital financial services. This is why it’s not a surprise that Ripple has an interest in the foundation.
Statistics have shown that more than 1.7 billion people around the world don’t have bank accounts. This includes but is not limited to sub-Saharan Africa, Latin America, Middle East, Southeast, and East Asia. The Mojaloop Foundation intends to promote financial inclusion by exploring digitalization.
They are already working on an open-source platform for payment services. In their recent blog post, Ripple said;
“Today, Ripple is joining the Mojaloop Foundation as a Sponsor member. We are proud to continue our partnership with the Bill Melinda Gates Foundation and to collaborate with fellow Mojaloop Sponsor members including Coil Technologies and Google in working towards a more inclusive future where everyone, everywhere can access digital financial services needed to connect to the global economy. …
