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xRapid Brings on Three New Exchange Partners

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8 hours ago, Tinyaccount said:

Great news.

I'm wondering how XRapid 'prefers' an exchange.  With auto-path finding I'm assuming it might get multiple near-equivelant options in the future.

So I'm guessing there is a default exchange list that these Prefered exchanges will be on for when it's going to use the default for any particular currency.  One day in the future lobbying Ripple to be their Prefered is going to be a 'thing'.

If I was wiser, and had funds for investing, there does appear to be clear indications what areas might be worth buying stock in....

Since the customer (let's say a bank or FI) needs to have accounts at exchanges, being a preferred one gives the exchange a better chance to be selected by xRapid customers and thus to have volume go through that exchange rather than a different one.

The bank could then offer themselves as a gateway for xVia (likely rebranded in some way) where the corporate making payments won't need to have an account with the exchanges.

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1 hour ago, aye-epp said:

I didn't realize this until this press release, but xRapid is purely dependent on exchanges.  xRapid can only be as successful as their partner exchanges are.

Open question: does xRapid have the ability to utilize multiple exchanges for each individual currency?  (i.e., can it use bitso -OR- bitex to exchange into mexican peso)

 

Pretty convinced that it can .afaik xrapid uses the most efficient way if I remember correctly 

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2 hours ago, aye-epp said:

Open question: does xRapid have the ability to utilize multiple exchanges for each individual currency?  (i.e., can it use bitso -OR- bitex to exchange into mexican peso)  

There is some integration work with their trading engine for an exchange first (though one could always do "xRapid" by hand). Ripple is probably focusing on integrating just one exchange per country for now in order to attract all liquidity to that place. 

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13 hours ago, JV2017 said:

Not for no reason massively oversold just as is XRP, in fact it’s VET, and as a price it would of been comparable to XRP hitting below $0.20 cents

There is no way of comparing a price of one asset to another as very small percentage of a cryptos price is based on utility and most of priced by ore speculation. 

 

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2 hours ago, XRPHornets said:

There is no way of comparing a price of one asset to another as very small percentage of a cryptos price is based on utility and most of priced by ore speculation. 

 

Then don’t try to comment on something you know absolutely nothing about ? VEN f^*cking overpriced... you’ll be calling XRP Ripple next... 

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3 hours ago, JV2017 said:

Then don’t try to comment on something you know absolutely nothing about ? VEN f^*cking overpriced... you’ll be calling XRP Ripple next... 

oh dear, this is a forum for reasoned conversation, not biased ranting.

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22 minutes ago, XRPHornets said:

oh dear, this is a forum for reasoned conversation, not biased ranting.

I’ll finish it then as you won’t, just as a matter of fact though, if you’d known VET was oversold you’d of bought in and increased your position in XRP as I did this morning, which you clearly didn’t ? rant over ?

Edited by JV2017

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12 minutes ago, JV2017 said:

I’ll finish it then as you won’t, just as a matter of fact though, if you’d known VET was oversold you’d of bought in and increased your position in XRP as I did this morning, which you clearly didn’t ? rant over ?

Whatever.

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12 hours ago, aye-epp said:

I didn't realize this until this press release, but xRapid is purely dependent on exchanges.  xRapid can only be as successful as their partner exchanges are.

Open question: does xRapid have the ability to utilize multiple exchanges for each individual currency?  (i.e., can it use bitso -OR- bitex to exchange into mexican peso)

 

Good question! @nikb @JoelKatz

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2 hours ago, scoobysi said:

I'd presume so (although we know what that can make of us?) as the wording has always been it finds the cheapest route, if there was only one route for any currency there wouldn't be much to choose from.

Yeah I’m pretty convinced that’s the case. I think it might even be able to split a payment through multiple exchanges.

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Wonder if we will see Uphold listed as an xRapid exchange partner. It would be nice to see Ripple invest in another US exchange as a counter-weight to Coinbase. I realize that Uphold is relatively smaller in size and scope when compared to Bittrex and Bitso.  It appears that they are a very ambitious outfit with plans already in the works to become a broker/dealer expanding their financial offerings to include security tokens, fractional equities, and other exchange services with the acquisition of JNK Securities.

Quote

“We've acquired a New York-based broker-dealer to expand our product base and offer more digital assets to our users,” adding “that they have filed with FINRA to become a broker-dealer and a broker-dealer status allows us to engage in activities that we wouldn't be able to."

"It also aligns with our mission of transparency and trust because we're submitting to the regulation that is appropriate and responsive to what the regulators are saying,” said Sherwin. Uphold also has future plans to become an alternative trading system (ATS) with the SEC.

We also can't forget about the $57.5 million dollar investment Greg Kidd (Ripple's former Cheif Risk Officer) pledged to the Uphold crypto exchange. I really liked this quote from the Coindesk article:

Quote

"A spokesperson for Uphold said the licensing revenue and development wing will receive 20 percent of the funding, which will be used to add more cryptocurrencies to increase the firm's connectivity to financial systems, as well as for use in Ripple-related projects."

Wonder if Polysign can help them with custody of their digital assets/tokens?? ?

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