While market capitalization determines rankings in the official ranking list that way showcasing prices of different digital assets, we can say that partnerships can easily rank cryptocurrencies by use case and by the overall technological value.
That is why partnerships are equally important as listings, as acquiring new partnerships is the precise key to lead the digital assets towards mass adoption, as well as finding real use cases for differently implemented blockchain technology.
During the last month, there were several major partnerships sealing deals with several cryptocurrencies and blockchain foundations, while some deals were marked as particularly interesting as well as prominent.
Litecoin (LTC) and CoolBitX Partnership
Announced during the second week of September, Litecoin foundation, on the head with LTC founder and CEO Charlie Lee, has partnered with CoolBitX in order to collaborate on the further development of blockchain technology.
CoolBitX was founded back in 2014, only a year before we have seen Litecoin coming into the market, and it represents a technology company aiming to bring cryptocurrencies closer to mass adoption, which is exactly the kind of coverage Litecoin will have from this tech company.
Although Litecoin’s partnership with tech giant IBM probably stands for one of the most important partnerships that this foundation has made by far, partnering up with CoolBitX brought Litecoin foundation closer to some big name from the financial industry.
As CoolBitX is releasing CoolWallet S in cooperation with Litecoin foundation and Charlie Lee, SBI holdings, already partnered with Ripple, funded around 13 million dollars alongside with the Japanese FinTech so that the wallet would be available at an affordable price of 99$.
As Charlie Lee is showing high appreciation for this wallet, together with Litecoin and CoolBitX, this tech company is planning on driving the adoption of cryptocurrency through the utilization of this wallet, for which Lee claims to be one of the best hardware wallets in the market.
IOTA (MIOTA) and Volkswagen-Bosch-Fujitsu Expansion of Partnership
IOTA might currently represent the leading blockchain-based project in the sphere of the Internet of Things as the foundation alongside with its unique technology called Tangle, managed to attract some big fish of the automotive industry, which would include partnerships with major companies like Volkswagen and BMW.
Although didn’t seal any of the partnerships with Volkswagen, Bosch or Fujitsu during September, it was announced at the beginning of September that IOTA is planning on expanding their partnerships with the above-mentioned companies.
That means that although Volkswagen has already announced their first collaborative project with IOTA, called CarPass ID that should become available in the first quarter of the following year, the collaboration between the two won’t end there as Volkswagen alongside with Bosch and Fujitsu will have more use cases for IOTA’s Tangle in the following period.
This way, IOTA is getting closer to being mass adopted while showing how Tangle applied together with the IoT can bring up a true technological revolution.
Ripple (XRP) and the National Commercial Bank of Saudi Arabia
One of the most interesting and most prominent partnerships so far this month in September of 2018 might be the announcement of having the National commercial bank of Saudi Arabia entering Ripple Net, that way becoming one of many financial institutions that have joined the Ripple network.
Ripple foundation has partnered with over 120 different banks over the course of the three years since it was launched, also previously partnering up with the Central Bank of Saudi Arabia, now having the Commercial bank following its steps with launching Ripple technology for remittance payments.
The Commercial Bank of Saudi Arabia has over 5 million users worldwide and as such will make a major impact on Ripple foundation since it has now joined the network for supporting this blockchain project.
Due to the increased migrant worker population, Ripple will enable users of this bank across the globe to easily and promptly make their transactions, that way cutting on costs and the time needed for payments to get to their families, friends, and relatives, also bringing the additional momentum to Ripple.
Ripple is also planning on bringing xRapid to banks and financial institutions, which is currently being tested by several financial institutions that have previously partnered with Ripple foundation.
At the same time, the partnership with Commercial Bank of Saudi Arabia might be the reason behind the most recent rebound of XRP against the fiat.