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We might find out Bank of Kuwait is using actual XRapid XRP. Would change everyt
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Date: May 30th, 2018 8:38 AM Author: crystalline adventurous school cafeteria
CryptoCoinNews says details are murky and they may actually be integrating XRP not just XCurrent.
We should know soon enough. If it's XRP it's blast off time. Number one market cap no question. Probably back to 2-3 bucks overnight. Maybe more. Would svae the entire market.
(http://www.autoadmit.com/thread.php?thread_id=3989593&forum_id=7#36150505) |
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Date: September 19th, 2018 2:58 PM Author: vibrant at-the-ready haunted graveyard center
My understanding is that it's a proposed alternative to the nostro accounts used to facilitate international transactions & hedge exchange rate risk. Because XRP transfers settle in seconds with negligible transaction costs, WesternUnion, MoneyGram, and other large banks are considering it as a replacement for their nostro accounts. The big issue, however, is that Ripple hasn't explained how it will increase XRP-to-fiat liquidity. I imagine that's where xRapid comes in: It could be a forex broker offering XRP-to-fiat currency pairs to its international banking partners.
As the name implies, xRapid is probably a complete replacement for SWIFT. But, unlike SWIFT, xRapid has built-in transaction clearing & settlement functionality because it will use XRP. That still doesn't solve the XRP-to-fiat liquidity issue, which is why I think xRapid must be something more than a new version of SWIFT that clears & settles fund transfers natively and within seconds.
(http://www.autoadmit.com/thread.php?thread_id=3989593&forum_id=7#36841826) |
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