Two Ripple partners to build on their partnership

There is no doubt that Ripple and XRP has its critics there is. The on the Blockchain-focused Fintech company and the crypto-currency, XRP, has long been regarded as a complete contrast to the entire Blockchain and decentralized movement, as it facilitates transactions for financial institutions.

Many have questioned the need for something like the RippleNet, a payment network in question, if there are other modern solutions that can be implemented or are already available. While this skepticism has increased on Twitter due to critics, has committed the Chief Executive of a company, Ripples technology and XRP through this technology, claims that his company sees due to their partnership with the San Francisco-based Fintech company in significant improvements in your business results.

In one of the recent events of the CEO of the international payment specialists, Mercury FX, Alastair Constance, spoke about Ripple. For some relationships Ripple claims that Mercury FX has joined RippleNet, in order to speed up “Transfers to reduce costs and to open up new markets that were previously too expensive”. In fact, the original business should serve the basis of Mercury FX companies and high-profile individuals, since “long led times and high fees for the use of the existing cross-border processing technology, only the Transmission of large amounts of money was profitable”. As the Manager explained:

In order to grow really, we wanted to appeal to everyone, the cross-border payments. When we discovered that Ripple could help us, payments are 100 times faster and at a fraction of the cost of handling, it was a Moment of change.

Constance explained later, how the technologies of Ripple allegedly, the business of Mercury FX have supported. One of these ways is the On-Demand-liquidity of RippleNet (formerly known as xRapid) that uses XRP as a bridge between the exchange of Fiat currencies. ODL allows Mercury, transactions between Mexico and banking partners in a way that was cheaper and faster than conventional means. Constance said:

Mexico has never been economically profitable for the payment processing, because of the cost advantage was present. […] With RippleNet we have made payments in a matter of seconds, and the price fell from US $ 50 to about US $ 2. The process was so successful that we were soon to facilitate payments for a British company that imported Mexican food.

A further possibility of how the company is supported by Ripple, is a TRANS-action corridor between the Philippines and the United Arab Emirates, in particular, in the context of the Transfer. Mercury transfers between the two countries, where the transaction layers of fees earlier at around 8%. They are largely low, said Constance.

Mercury FX is one of the first financial institutions in the ODL, formerly known as xRapid, is used. The company launched its first payments with this technology by the end of 2018, with an ODL-based corridor between the UK and the Philippines.

Also, Santander is expanding cooperation with Ripple

In a new Interview with Bloomberg, the Chairman of the Spanish banking giant Santander, Ana Botin says that the company is bringing its Ripple-based payment App, One Pay FX in the United States.

We are launching One Pay FX, a Blockchain-based, cross-border Retail payment platform with Ripple, a US company. In the United States. We will operate the Open Banking.

So far, One Pay FX is available in four corridors: the United Kingdom, Brazil, Mexico, and Spain. Santander used the payment messaging System of Ripple, which is designed so that it can compete with the Swift and no XRP used.

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