Jump to content


  • Content Count

  • Joined

  • Last visited

  1. hallwaymonitor

    Mercury-fx using XRP

    I'm happy to be corrected. This is how I see it. Before the Mustard company started to pay with Mercury-fx my guesstimate is that they had two scenarios how to pay their Mexican invoives in MXN: a) Own account in the Mexico bank: In this scenario the Mustard company creates a bank account in the Mexico bank denominated in MXN. Hold some MXN there always. Pay invoices to the Mexican suppliers and refill the account regularly with moar MXN in order to stay liquid. Mustard is managing its own nostro account in MXN here. b) Not any own account in the Mexico bank: In this scenario the Mustard company does have an account in UK in GBP only. The Mustard pays the invoice in GBP and simultaneously orders its UK bank to execute FX conversion GBP/MXN while paying to the suppliers account. Here the UK bank will debit the Mustard account in UK in GBP and credit the Mexican supplier account in Mexico in MXN. Of course the UK bank will add its margin on top of the GBP/MXN market rate because they are handling the MXN nostro account in this scenario. Mustard is not managing its own nostro account in MXN here. Instead, the UK bank is doing that for them for a fee of course. Enter xRapid with Mercury-fx. Who will now hold MXN in the nostro accounts? IMO the answer is Bitso (and its XRP/MXN traders) and the suppliers bank in Mexico. Nor Mercury-fx or Mustard or its UK bank have to hold any MXN in their nostro accounts while paying with xRapid. Bitso is basically the only party in this case who is taking the burden of holding MXN in their balance sheets. Fortunately, Bitso gets commission from each XRP/MXN trade they make.
  2. hallwaymonitor

    Mercury-fx using XRP

    I guess there is a hidden xRapid exchange for XRP/GBP pairing that has not been revealed yet. In below is a link to the most extensive list of XRP pairings that there probably is at the moment by Leonidas. This list is way more extensive than CMC offers. If you search GBP you can see that there are 17 exchanges currently offering XRP/GBP pairing. https://xrparcade.com/markets/
  3. hallwaymonitor

    Mercury-fx using XRP

    So, based on the above calculations the Mustard company could "send" 3521.67 GBP from UK to its supplier 86,633 MXN in Mexico via Mercury-fx xRapid. With Transferwise they would get in the destination only 86,141.58 MXN that is 491.42 MXN (about 26 USD) less. ALSO xRapid practically eliminates the nostro accounts which means you don't have to hold highly inflationary MXN currency in the nostro account in the Mexico bank account. Thus, the eliminating of nostro accounts will incur more or less additional savings on top of that 26 USD for the Mustard company.
  4. hallwaymonitor

    Mercury-fx using XRP

    Nice digging, @XRPforALL Regarding to the recipient XRP address of the transaction, @BehindtheLedger is also suspecting that it belongs to Bitso. The address has been activated by Bitso and hence it probably belongs to Bitso. Also the address has been rotating XRP payments with the same size back and worth a little bit. Read more in below tweet:
  5. New video from Catalyst Corporate. Looks like they are going to use payment app called Currenz and it is powered by Catalyst Corporate. However, we do know who has built the payment plumbing, don't we?
  6. hallwaymonitor

    Mercury FX Announcement Page

    They pinned below tweet that contains link to the brochure. No brainer. If you want expensive and slow remittances then go to bank. https://www.mercury-fx.com/media/files/1535712265mercurybrochurevvfinalff.pdf
  7. hallwaymonitor

    Mercury FX Announcement Page

    I think we have currently only slight an idea how many zeroes xRapid can handle because we don't know how xRapid exactly works in detail level. Does xRapid use synthetic order books, for instance. There has been speculation going around. xRapid is after all a proprietary software from Ripple. However, we know that the XRP/MXN volume in Bitso has been very low quite some time. https://coinmarketcap.com/currencies/ripple/#markets In below is an analysis conducted by @BehindtheLedger that revealed that some kind of testing was done recently in Bitso. We don't know yet was this testing related to xRapid?
  8. hallwaymonitor

    Mercury FX Announcement Page

    BOOM! - Mercury-fx is a confirmed xRapid customer of Ripple. - They managed to move value worth about 4550 USD (3521 GBP or 86633 MXN) from UK to Mexico by using XRP. - "UK-based Mustard Foods saved £79.17 and 31 hours on the transaction." - James Durrant, Commercial Director from the Mustard Foods basically confirmed that xRapid is giving them competitive edge due to faster and cheaper settlements!
  9. Good point. If there is a friction to exchange AML/KYC data between financial institutions they will be more reluctant to exchange digital assets (and FIAT as well) between each other. The same principle applies between applications. If I remember correctly: Ripple's software are not specialized in handling/administrating the identity data (often end customer's personal data). As far as I'm concerned this means when financial institution joins to RippleNet their existing identity data software will stay as. However, the identity data will still be accessible when using Ripple's software due to software integrations. Also Fis within RippleNet can exchange AML/KYC data easily between each other. However, I don't know how easy it is to exchange the identity data outside RippleNet. If Corda Network can help with this it might encourage the adoption of digital assets outside RippleNet as well?
  10. hallwaymonitor

    SendFriend use Xrapid

    I hope I would be correct assuming that SendFriend started with Stellar protocol and after that Ripple came in and took over the business with xRapid.
  11. Assuming that XRP will become the global standard in future I cannot see that major FIs would pay high price per XRP when they start seriously filling their bags. It would be just too good to be true imho. Thus, the only way I see major FIs could initially fill their bags with XRPs is to buy with low unit price. What is low unit price for XRP then? I dunno. However, I really hope that we would see increasing monthly XRP sales from Ripple during 2019 because that would signal that the price of XRP is currently low-ish and also it would help to ease the concerns of massive XRP holdings of Ripple more and more. I guess the dream scenario for us small XRP investors would be that Ripple sells large portion of its XRPs to major FIs with large discount via OTC. These OTC sales would not affect the market price of XRP and now the major FIs would have more motivation to settle their payments via XRP/xRapid and hence solidify XRP the standard.
  12. hallwaymonitor

    So Few people know

    This is a valid point. I dunno is there any good research (with large diversified sample size) about XRP that how many ordinary people even knows what it means? I think less than 5 % of gen pop have ever heard anything about XRP. We are so early.
  13. This time PoW is going the beating. http://galgitron.net/Post/Proof-of-Not-Working
  14. hallwaymonitor

    Valor, Another Ripple Scam?

    Another day another piece of FUD. I guess we have past the laughter phase by now and if this latest attempt is the best fight fudsters can come up with then things look promising imo.