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HomeCrypto NewsMarketIs Payment Giant Visa Secretly Working With Ripple?

Is Payment Giant Visa Secretly Working With Ripple?


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Visa has acquired or partnered with 4 Ripple partners in the last few years.

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Pseudonymous XRP Influencer 24HRSCRYPTO has asserted that global payment giant Visa is secretly working with Ripple.

The influencer made this claim in a tweet yesterday. In the attached video, 24HRSCRYPTO showed that Visa had jumped into bed with at least 4 Ripple partners in the last few years, either in a partnership or a complete acquisition. Consequently, the influencer frames this as a bull case for XRP.

The Ripple partners include Earthport, Dee Money, CurrencyCloud, and Novatti. Notably, Visa acquired Earthport and CurrencyCloud. On the other hand, it entered into partnerships with Dee Money and Novatti.

After researching these claims, it is worth noting that the companies fully acquired by Visa no longer appear on Ripple’s customer’s page. In addition, the partnerships and acquisitions in question are usually about extending the reach of Visa’s proprietary cross-border payment solutions with no mention of Ripple or XRP.

Also, at the time of writing, Visa and Ripple are yet to respond to requests for comments.

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Consequently, it is difficult to claim that Visa is in cahoots with Ripple. However, it speaks to the importance and reach of Ripple partners, who are continuously sought after by traditional finance giants like Visa.

While there may be no partnership with Visa, Ripple might not need one. As reported last year and highlighted in its “Q4 2022 Markets Report,” the firm’s On-Demand Liquidity service, which uses XRP as a bridge currency for near-instant cross-border payments, has expanded to nearly 40 payout markets, representing about 90% of the foreign exchange market. Notably, all of these come despite its legal battle with the US Securities and Exchange Commission at home.

And aside from Ripple developments, the XRP Ledger is also developing new use cases to leverage the scalability of the network. These developments include NFTs, a native automated market maker (AMM), an Ethereum Virtual Machine compatible sidechain, and Hooks for native smart contracts.

At press time, XRP is trading for $0.3961. It is up 16.5% since the start of the year following a resurgence in the crypto markets after a woeful 2022. Many anticipate that the asset’s price will surge in the event of a favorable ruling in the ongoing SEC lawsuit, which now awaits Judge Analisa Torres’ decision.

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Okoya David
Okoya David
Okoya David Kio is a crypto enthusiast passionate about understanding what makes the nascent market tick. When he's not pondering about cryptocurrencies, you might find him in a BP debate room trying to proffer solutions to age-old societal problems.

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