Rumor mill: Will there be a collaboration between Coinbase and Ripple?

The rumor kitchen cooked already in the year 2018, as Coinbase was thinking of it, XRP in the Portfolio. Currently a new rumor on the net is that Coinbase and Ripple could have closed a partnership for the further adaptation of xRapid – how much truth is in it?

On a current discussion on the OECD Global Blockchain Policy Forum in Paris, a rogue rumor blow out of it collapsed rows of a cooperation between Riplpe and Coinbase. Breanne Madigan, head of the global team for institutional markets, from the Ripple, took part in a Panel on the regulation in the area of Digital Finance. As Madigan spoke about Ripples XRP-based cross-border payment solution xRapid, she used Coinbase as an example, for a company that could use xRapid to transport values on the Blockchain in the world (freely translated):

We have signed a contract with MoneyGram to facilitate their cross-border flows. So there is an example of someone who lives in the USA and Mexican Pesos back to Mexico wants to send. The way it works is that we send through our partnership with the river of MoneyGram to one of our so-called Origin of stock markets – say, it is Coinbase in the USA, as an example. The US Dollar will be converted to XRP and then sent across the border to a local exchange in Mexico, in this example, Bitso called. Bitso then takes the XRP and swaps it for a local Mexican Pesos.

And the consumer, or the end-user customer of MoneyGram, receives Mexican Pesos directly. And so, we have MoneyGram in this example, significant cost savings. Significant efficiency and is a genuine promise of performance for a company that relates to the end consumer, because their fees are thereby reduced

The comments vebreiten in the age of digitalisation as a purgatory on Facebook, Linkedin and other social networks. On Twitter, many XRP Supporter to doubt, however, whether Coinbase is actually on Board.

xRapid scouts — I summon you.

Breanne Madigan drops some crumbs at minute 9:37, it seems like Coinbase is on xRapid exchange and it’s currently originating MoneyGram flows into Mexico. Should be interesting to track.@tenitoshi@hmatejx@hallwaymonitor2https://t.co/CFV5uFe1pE

— XRP Research Center (@XrpCenter) 15. September 2019

So far, there is no opinion or official confirmation, neither Ripple nor Coinbase. The price of XRP is also unaffected and continues to be sideways. Madigan speaks about how Ripple works, sufficient to provide liquidity, to be able to xRapid in new payment corridors with additional currencies to offer (freely translated):

And as we scale xRapid, the On-Demand-liquidity product, we need to look at now prior to the introduction of MoneyGram in the current liquidity of XRP against USD and XRP to Mexican Peso to Bitso. And we call it a half a Million dollars per day. Now, if we want to start to send 10[million dollars] and then 50[million dollars], and then 100[million dollars], as we scale, then this liquidity?

And we begin already in the last month, since we MoneyGram in this corridor have introduced, to see that a number of new liquidity participants recognize that there is a real arbitrage opportunity. We don’t have to pay in order to motivate the people, to open markets, because there is a significant volume in this corridor. And so this is a first step in the development of real deep liquidity markets in areas that it has never happened before. And, we are changing the way money beyond the limits will be sent.

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