Jump to content

Letter of Credit Alternative in Ripple


Recommended Posts

Hi All,

I have been following the blog for a while and I am both a long term hodler (if that's a word) and i also do some day trading on ripple and some other altcoins. 

I really like the technology and what the people are doing here and in fact i am trying to utilise it for my business where possible.

I am currently facing an issue with a supplier who i have worked it for only a short period of time and i need to transfer a substantial amount of money. I have exhausted the solutions offered by banks in order to secure the transfer but at 2% of the value per month the Letter of Credit charges are horrible. 

Given that the supplier also happens to have an XRP wallet is there a method to carry out the alternative in a cheaper but safe way - say he does not get the funds unless a certain condition is met?  I have read that something on these lines is possible however I am not sure where best to read the full procedure for doing this


Thanks for your help in advance and all the best on this project

Link to comment
Share on other sites

  • 9 months later...

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Create New...