Rebate: Ripple’s Marketing Strategy for Market Bank Adoption

As a cryptocurrency, it can be said that Ripple’s tokens are heading in the right direction. This is largely due to its enterprise’ well thought-out, not to mention distinctive marketing strategy, a first of its kind in the virtual currency world.

The company responsible for XRP token is attempting to get banks to adopt the blockchain technology network by providing a rebate for pioneer adopters.

The enterprise is leaning towards pulling out $300M from the XRP holdings for the RippleNet Accelerator Program, which consists of adoption marketing incentives, as well as volume rebates.

Members of RippleNet will be entitled to interface-fee rebates, as well as licenses for every integration and volume achieved under set deadlines.

As stated by the company, 50 percent to 300 percent of the aforementioned fees, as well as license fees for the first year will be pulled off from rebates available in US Dollars or XRP tokens.

The marketing strategy incentive, on the other hand, will tie up qualified users’ marketing expense under the conditions of advocating Ripple-hoisted products and services to their clients.

The VIP marketing of the enterprise Monica Long stated notes are taken out of financing entities such as Paypal in an effort to generate network effects, stating that the platform is comprised of over 100 members:

“Since we are offering the incentives in XRP, we anticipate seeing an added benefit of building an easy on-ramp for institutions to use XRP in their payment flows to lower liquidity cost in the future. Early reception of these XRP incentives in a test phase has been very positive”