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 brad states "After a successful pilot, @santanderuk is rolling out its @Ripple-powered mobile app to customers this quarter, letting them send money internationally in seconds, with just a few clicks." he mentions in seconds but you need xrp to have payments and settlement in seconds, so my question is how long does settlement take just using the ripple technology without xrp?

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If I understand correctly, with xCurrent the settlement has to be with pre-funded nostro/vostro Fiat accounts on both ends with traditional currency exchange in the middle if needed. With xRapid, the XRP is the settlement agent and eliminates pre-funded accounts and is the currency exchanger if XRP is trusted and accepted by all parties. 

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54 minutes ago, calex960 said:

 brad states "After a successful pilot, @santanderuk is rolling out its @Ripple-powered mobile app to customers this quarter, letting them send money internationally in seconds, with just a few clicks." he mentions in seconds but you need xrp to have payments and settlement in seconds, so my question is how long does settlement take just using the ripple technology without xrp?

@calex960 long time no video. How come brother? Lost faith?

Edited by zenkert

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If you have cash in the currency your customer wants to make a payment in, there is no need for settlement. xCurrent and its messaging is all you would need to sync your internal ledger(s).

A complex global bank such as Santander has sufficient cash on hand/operations in each of these countries (Spain, Brazil, the U.K. and Poland), to service their customers payments.  

XRP or xRapid, is more immediately useful for business that need to or want to service payments in many different countries, but don't have a desire or the capability to tie up cash they could otherwise use as working capital, to *potentially* service payments (It also exposes them to FX risks). 

This is not to say a bank like Santander would not benefit from the use of xRapid. 

 

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15 hours ago, calex960 said:

 brad states "After a successful pilot, @santanderuk is rolling out its @Ripple-powered mobile app to customers this quarter, letting them send money internationally in seconds, with just a few clicks." he mentions in seconds but you need xrp to have payments and settlement in seconds, so my question is how long does settlement take just using the ripple technology without xrp?

The Sandander somewhere said something along the lines of "One click and 40 seconds".

xCurrent imho, but full live production system. Not a test, not a beta, not a pilot. This is the real deal. They also state they are excited to be one of the first banks rolling this out live.

I can almost guarantee they'll want to be one of the first to move to xRapid once this goes well.

Edited by retryW

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