Ripple jumps 20% as it’s linked Japanese credit card companies

XRP jumped 20 percent to a record high of $1.43, making it the third-largest cryptocurrency by market capitalization at $54 billion, behind bitcoin and ethereum, according to CoinMarketCap. The gains followed news that Tokyo-based financial services company SBI Holdings and its subsidiary SBI Ripple Asia — formed with Ripple in 2016 — announced the establishment of a "consortium" with some Japanese credit card companies to utilize blockchain technology, according to an online translation of a release.

http://www.sbigroup.co.jp/news/2017/1227_10934.html

Does this surprise anyone? The value of a token over the long term is driven by its utility. The banks are shit scared of Ripple as its global 4 second settlement speed destroys the competition – both crypto and non-crypto. Further, as it’s already a well established technology in use for real by a number of banks globally, it’s only a matter of time before someone makes a major play for this one.

Ripple is to Bitcoin what Google was to Alta Vista….