Financial ratings agency Weiss recently saw its crypto division grade various tokens get rated in a report and the results were perhaps not entirely what the community would have expected. While many projects scored an “A-” grade when it came to technology and adoption on the whole, few cryptos managed to get as high as a “B-” on overall ratings.
Bitcoin (BTC), Ripple (XRP), and EOS (EOS) were the only tokens to get an “A” on tech adoption, with Ethereum being graded at “A-”.
Ripple also gets a special mention, with Weiss saying that the SWIFT global payments systems, which is considering its own implementation of blockchain technology, could be strongly challenged by the cross-border payments solutions put forward by the project. The report reads,
XRP, managed by the Ripple company, is leading the charge to compete with SWIFT, the global network for money transfers among the world’s financial institutions. Looking further into the future, XRP may contribute to a banking system grounded in Distributed Ledger Technology that helps provide consumers higher returns, enhanced protection against risk and lower borrowing costs.
No project scored higher than a B- on overall ratings, and the XRP token in particular has come out very respectable in the report. The report makes another interesting point: it believes that the EOS project might be a strong rival to the Ethereum project, and could serve as the backbone of a new internet.
The rating of XRP by Weiss is accompanied by a good slew of news for the project: SBI Holdings CEO Yoshitaka Kitao is very bullish on the token, as are Japanese investors. Ripple has also become the founding member of INATBA, an organization that includes IOTA, Cardano, Lisk and many others as members, with the intention of encouraging blockchain adoption and growth.
