Net users of Ripple’s $0,99 digital currency have benefited from a new fee imposed on banks, according to a new study.
The new fee is one of the most significant changes to the Ripple network’s digital currency, the Ripple Coin, that’s expected to impact the way banks and other financial institutions manage and track digital assets.
The fee, which is currently set at 0.01% of the amount transferred, has caused some people to take the Ripple coin off the Ripple Network, a popular cryptocurrency that’s designed to enable instant transfers of money between accounts.
It also means that Ripple has had to compete with some of the world’s largest banks, which have also adopted new fees to control the digital currency’s use and usage.
While the new fee may be good for Ripple’s network, it could be detrimental to banks that do not have the technology to manage and store digital assets, according a report by Credit Suisse analysts.
In the report, Credit Suise said that banks have long been reluctant to integrate Ripple into their systems, because it can be difficult to track and track a digital asset in real time, making it harder for the bank to determine if an asset has value or not.
That means the Ripple fee, or “network fee,” could also hurt banks that already struggle to track digital asset holdings, said the report.
The Credit Suises study did not quantify the impact of the new network fee on banks’ balance sheets, but noted that the fee could affect how the banks manage digital assets within their systems.
According to the report:In its latest financial results, the bank said it expects that the average value of assets held by its digital asset custodians will be reduced by 0.06% compared to 2016 levels.
Credit Suisse said that its research suggests that banks may also see a decrease in the value of their digital assets held as a result of the network fee.
In 2016, Ripple held over $5 billion in assets, the report said.
The report does not give any details on how many banks might be impacted by the network fees.
However, a spokesperson for Credit Suiser said that the firm expects the impact to be significant.
“We expect that the network charge will likely cause banks to scale back digital asset management, reducing liquidity and decreasing their ability to manage their digital asset portfolios,” the spokesperson said in a statement.
Ripple said it plans to adjust the network charges and increase the fees that banks pay to handle the digital assets in its system.
In response to the news, Ripple’s CEO Brian Armstrong said that he’s confident that banks will find ways to continue managing their digital wallets.
“I believe that most banks will adjust their fees to keep their digital wallet digital and secure,” Armstrong said.
“The banks that will be most affected by this change will be the largest financial institutions.
And they’ll be the banks that have the least incentive to innovate and make it easier to manage digital money.”
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