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Facebook To Compete With Ripple (XRP) On Cross Border Payment


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"It appears Facebook is planning to compete with Ripple in cross-border payment. The social media giant is researching on creating its cryptocurrency which will give its billions of users around the word opportunities to achieve hassle free cross-border transaction and settlements."

"Ripple and other cryptocurrencies who are working assiduously to get the world seamless cross-border remittance options may receive a life-threatening competition from Facebook anytime soon.

A Facebook official who pleaded anonymity disclosed to Cheddar that “They are very serious about it.”



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Well, I don't see how they can compete. Though, to me this is absolutely fantastic news. I say this because of two reasons:

1.) If this is true, and I hope it is, it will pressure Banks, FIs and payment providers to kick in production mode with Ripple's products for cross boarder payments. Why lose clients to Facebook? 

2.) Competition keeps Ripple hungry and on their toes. Let's face it, they are in it to win it, but Ripple isn't looking out for us small time speculators. If they win a larger stake of the cross boarder pie, then that is good for us hodlers. 

I say bring it Facebook. Please, put pressure and compete so clients in the financial sector get a move on adoption.

PS, Ripple is years ahead when it comes to development, so I doubt FB will make much of a dent, though - I hope I am wrong. I want more liquidity and XRP to be above 25 dollars.

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I dont get it, facebook and cross border payments it just doesn't make sense.  Facebook has nothing to do with FI or PI or banks in general

But any ways this is actually great...Ripple's competitor will be facebook lol....the same facebook who sells data right? who listens to your phone call conversations and blast your page with ads....RIGHTTTTTT


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Given the current US government environment -- both executive and legislative -- I'm not sure how much longer the "FANG" group of US Tech companies (Facebook, Amazon, Netflix, and Google) can simply waltz into whatever business line tickles their fancy and not - at some point - run into anti-trust by US Dept. of Justice. Plus -- the major US banks will totally freak - BofA, Wells Fargo, Citibank, JP Morgan will definitely pull-out all stops to fight this. This is not the right time for FB to contemplate this - they could regret this and fast if they push this idea. 

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Facebook already has too much regulatory problems.

This news is a joke. So facebook will start allowing their users to send money right away from anywhere to nowhere freely? Hahahahahahaha

Only people who really do not understand a thing about finance would imagine such hypothetical world. We know how Ripple is doing their job for more than 5 years, creating and allowing others to create those complex infrastructures that are starting to allow the Internet of Value.

If they want a technology they buy it. But Ripple is already too big for them.

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