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Nicolas

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Everything posted by Nicolas

  1. None have officially opened as far as I know, these could be test flows who knows. We are not doing any KRW for example...
  2. Any retail speculator who is putting an order onto an exchange automatically becomes a market maker, you have an interest to buy/sell. The more the merrier and then it does not matter if retail, semi-professional or institutional market makers are there. What we seek in close bid/ask spread and depth of order book. I'll leave others to research, comment and speculate what was first, the chicken or the egg. I am interested in this one use case and its working. TGIF
  3. It all takes time but its certainly not in a galaxy far far away. I wish I could be more specific.
  4. I do not recall having said anything about BofA. In any case I do not have any insights what their integration is. I understood they are part of the RippleNet governance cmte.
  5. sorry I am not able to answer this, I am unable to make any price comments I am afraid
  6. Yes, in Australia they will accumulate an excess of AUD until we can open up in-bound AUD for ODL. For the other two exchanges, they will accumulate XRP but the challenge is to bring-in fiat MXN and PHP. You got it correct.
  7. Hi, let me try to shed some light on this as much as I can. Any person theoretically can be a market maker and establish a book with different buy / sell orders. More professional MM have automated process to build an order book. Thats how much liquidity is being offered at what price spread. That is whats a visible order book, you always see that and as orders are hit, the book is re-established. Imagine that there are multiple of MM doing this at the same time. There are mechanism in place that in case a bigger market order is placed that invisible liquidity is made available to clear this market order however I am unsure exactly how this works on technical level. Ripple is organising a number of market makers to be available on these exchanges to manage and make liquidity available however I am unable to clarify what arrangement they have. Note here this is not about arbitrage. A MM can be a professional trading firm, hedge fund, bank, asset manager or private person have the technical capabilities and financial position to be active in this. With regards to re-balance, this is not about XRP. XRP can be sent and rebalanced easily. I think I explained previously that a MM has a XRP balance and over the course of the day accumulates an excess in AUD. (more people buying XRP). They convert those AUD to USD in fiat outside of Ripple and send those USD back to where they can collect their XRP. The XRP are being used to make a XRPAUD market again. While they collect AUD (by selling XRP), they will at some point or frequency buy back XRP/USD somewhere else. All thats left to do is use a FX service for selling AUDUSD to buy settle the USD. In this case they can also sell AUDPHP or AUDMXN and place the PHP with coins to make a XRPPHP market or similar with MXN. Does this help?
  8. Thanks for outlining this, pretty much correct. The price is live gets automatically updated until it is accepted.
  9. Yes you are right and there are many other developments in the pipeline but more later...sorry. CBA, you mean those that have NPP real-time payment integration but slow down the process to 24 hours for their clients? So innovative. Close to Machiavelli yes.
  10. Sure no problem. So far volatility per se has not been an issue for us. With regards to ODL flows, please keep in mind that real money flows for these corridors are not linked to high price volatility or crypto sentiment. These customers are not focused on that.
  11. We dont service the Corridor to Kenya specifically thats is correct. However with XRP, we dont need to. You come to us, we convert AUD to XRP and send it to any ripple wallet or exchange account. Yes we do it and are doing it for our clients.
  12. It all depends on the partner and us, how long the due diligence phase lasts, how commercial discussion progressing ahead of any actual technical integration, which is usually only a few weeks. Yes certainly it will get easier and more streamlined, led by Ripple then our own processes as well as those of our partners. The capital raise is private, so one would not find any detail on it unless there is/are people in the community who seek to participate. Though generally we engage wholesale entities.
  13. That's fine. This can become active anytime someone wants to ask a question. We're in the process to integrate with a number of RippleNet partners and have a growing pipeline of new names every week. While a growing network will help our distribution to more Ripple enabled corridors (incl. ODL when they are available), FlashFX is increasingly used as a local AUD correspondent bank / Ripple-enabled entity for real-time (NPP) AUD payment distribution for overseas entities. We support B2C users that access our services through the web / app or B2B via our API. This will continue to evolve for us as we increase the number of those integrations and set these bi-lateral payment partnerships live with our team. The FlashFX team and build has been largely self- and organically funded, a big part of the milestones for the next few months is complete our capital raise, announce key hires to the team as well as strategic partnerships with local and overseas entities.
  14. There will be multiple exchanges and payments distributors for each destination. Careful around the re-balance, Bitso as the exchange does not re-balance positions, thats only the market makers.
  15. Some have yes. Most customers dont know and understand ODL.
  16. We have been using USD and EUR IOUs to make on-ledger payments however we faced liquidity issues that ODL is solving for us. We are using XRP mainly now for this flow. ODL is open new liquidity sources and obviously a lot more corridors. The ODL workflow is much different as the fiat - XRP exchange is done off ledger only the XRP is done on-ledger. ODL is fully automated (at least for us). FlashFX has a mobile app https://help.flash-fx.com/en/articles/3631553-install-ios-mobile-app https://help.flash-fx.com/en/articles/3631635-install-android-mobile-app
  17. Agree a bit of a unnecessary rant but hey its weekend. A stakeholder as you put it has an interest, so I dont think some would want to self-harm and dump unnecessarily and foolishly. If someone is smart, you and the market will not even know if a position is being liquidated. Even in a highly liquid market like FX, nobody would just sell 500m or 1bn worth of $ in one go. This happens all the time on big position adjustments, M&A deals etc. You drip feed smaller parcels into the market and sometime that might take a few hours or days. Even within the bank, there are only a handful behind the wall people that will know what and when its happening. The last thing anyone wants is market speculation on a perceived order clearance. Bringing this back to the institutional point of XRP, its not about dumping the XRP like its been happening with so many position in crypto in the past. People just don't know or understand. These entities wait for regulatory clearance, changing risk appetite and understanding in these organisations. All those entities that invested into Ripple and might hold a XRP position, these are smart investors and they would not foolishly dump a position. Everyone is playing the long game, they are not looking at this and are concerned about their market to market value, this is more strategic. Anyway hope that makes sense and its coherent to the readers.
  18. Just imagine a world where every FI, Bank and MSB has their XRP position and organisations settle XRP with each other. Again positions can be hedged back to fiat. XRP are sent across back and forth all day long and by COB or through out the day you update the hedge position. Issues are then only price fix, how does FI A vs FI B agree the real XRP price / source.
  19. Edit: these days hedging does not exclude smaller players. anyone can hedge a XRP position by using CFDs.
  20. Its multi-dimensional. Whats missing in here is that Alice (AUD) is sending to Bob (USD). She only cares about how much the cost is (AUDUSD) as she compares this price to other traditional services (banks, other MSB). She does not know or care about XRP price or exchange A, or B. The exchanges want flow so they charge a commission on volume, The ODL enabled MSB wants to reduce operational costs and provide a faster experience to Alice, Alice as before only care as about her AUD cost or what Bob gets in USD. The ODL payment distributior at the destination is charging a fee for the service, so little focus on volume but # transactions. The Market Maker, wants flow and volume and as much two way flow as possible to off-set the need to re-balance portfolio. Lets look at example. They make XRP available at AU exchange. They will collect an excess of AUD at the moment. Their USDXRP position is hedged. All they need to do is physically move the AUD into USD and have the USD back into where they can settle their XRP. USD is easy but the issue remains there is an overwhelming inflow in PHP. So if the MM wants to collect the XRP back that he sold at the AU exchange, he needs to make PHP available.
  21. Yes its a myth in any business that flows will be equal. The idea that Transferwise is a fully P2P business and all flows are matched is one of those.
  22. 1) yes correct 2) yes correct 3) yes again 4) yes but its unlikely equal all the time 5) no, re-balancing happens outside RippleNet
  23. Every transfer to any ODL destination is one on-ledger XRP transfer, whatever the size. There is no batching from what I understand.
  24. 1a) yes 2) per user So for the Phillippines, there are different bank or cash pick payment methods. Each venue has different pricing that is driven by the distribution agent. That is outside Ripple and ODL, those prices automatically feed into the final exchange price.
  25. I am not able to comments on these transfers specifically but by using ODL we do not need to fund the destination account. Thats what ODL is for. Value is transported in real time from A to B, no need for pre-funding. We have transfers going through ranging from 50$ to 75/100k$, in the end the customer is choosing that. We are not in control about the size.
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