Recent publications highlight significant achievements of Ripple and Stellar in financial innovation, concerning their work with global banks and mobile payments in Nigeria.
Ripple’s Work with Banks
A document hosted on cgdev.org states that Ripple has completed several pilot tests with globally active banks. These pilots aimed to evaluate Ripple's ability to lower costs, improve speed, and support reliable international transfers while remaining compliant with regulatory standards.
Stellar’s Role in Nigeria
The same source indicates that the Stellar network is being used to provide interoperability between mobile money operators in Nigeria. This model is now being extended to Kenya and Ghana to reduce fragmentation and enhance transactions across different platforms.
Broader Context of Adoption
The document illustrates the dual approach taken in blockchain-based payment innovation, with Ripple focused on institutional use cases, while Stellar emphasizes consumer-level connectivity in developing regions.
Thus, the achievements of Ripple and Stellar underline their importance in the financial innovation process, where both companies play significant roles in diverse market segments.
