Ripple services to benefit new industry player: Cebuana Lhuillier

As the cryptocurrency market continues to run the bull-marathon, the worldwide adoption aspect of the blockchain space has also become exponentially promising in recent times. One of the biggest contributors that have worked towards crypto-adoption is Ripple, pushing XRP forward by utilizing it through the services provided by the RippleNet.

Cebuana Lhuillier is one such player in the industry that has now decided to use RippleNet products to advance its services technologically. It is a Philippine-based pawnshop and the signature brand of PJ Lhuillier Group of Companies.

Recently, Ripple also released its report of all the breakthroughs in 2018. Here, the company displayed its focus on adoption, markets and the regulatory framework. The executives at Ripple believe that the ASEAN region has progressed and is way ahead of the regulatory bodies in the USA in terms of regulatory clarity towards the cryptocurrency and blockchain space.

After partnering with Ripple, Cebuana Lhuillier has become the first player in the micro financial service sector to use the blockchain technology in its services.

Jean Henri Lhuillier, the Chief Executive Officer and President of Cebuana Lhuillier also commented on the company’s move to partner with Ripple. He said:

“Using xCurrent will improve efficiency on how we provide service to our clients. This will also highlight Cebuana Lhuillier’s commitment to further innovate and evolve—true to our reputation as best-in-class in our industry.”

On the market front, XRP has shown immense correlation with the price of Bitcoin [BTC]. As the king-cryptocurrency hit $4,000, all the other altcoins followed the lead and welcomed the bull. XRP, being no exception is close to hitting the milestone of $0.4.

At the time of writing, XRP was trading at $0.36 with a market cap of $14.8 billion. The 24-hour trade volume was recorded to be at $742 million.