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Catalyst Corporate Partners with Ripple on Blockchain for Cross-Border Payments

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“Despite challenges faced with international wires, demand for global remittances continues to increase. For example, U.S. global remittance flows from the U.S. to Mexico totaled $28 billion in 2016.”

 

”Blockchain transactions could offer credit unions additional opportunity, as well, considering cross-border e-commerce transactions are expected to reach almost $1 trillion by 2020.”

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31 minutes ago, doopers said:

When Brad stated he was confident that at least one bank would be using XRP by the end of the year, isn't it now pretty damn likely he was talking about catalyst?

But if they’re testing it out only, will they be ACTUALLY using xrp?

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1 hour ago, doopers said:

When Brad stated he was confident that at least one bank would be using XRP by the end of the year, isn't it now pretty damn likely he was talking about catalyst?

This is even better. This is like 1400 banks going live with xRapid. 

1 hour ago, princesultan said:

The question is when will it go live 

People were so worried about not seeing instant results of increase in volume and increase in price. They are just in the first stages of setting this up. As much as we all would love to see the volume and the price increase, it will take some time. We are in the cusp of a big and permanent rise in the value of XRP!!

Edited by lll_lll

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4 hours ago, doopers said:

When Brad stated he was confident that at least one bank would be using XRP by the end of the year, isn't it now pretty damn likely he was talking about catalyst?

There are differences in a bank vs. a credit union. 

https://money.howstuffworks.com/personal-finance/banking/difference-between-bank-and-credit-union.htm

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This is cool, and could really open the door, so to speak.  It looks like Catalyst Corporate has been a leader in the past:

"In the early 2000s, Catalyst Corporate was a pioneer in the electronic image exchange of paper checks. Two years ago, it pioneered a web-based, real-time deposit capture suite of services, called TranzCapture. The next step in pioneering new efficiencies in payments for its members is researching blockchain delivery of international remittances."

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1 hour ago, TheXRPer said:

This is true. Currently, my stateside "bank", actually a credit union, doesn't offer the ability to transfer money out of the US. The same is true with many credit unions. I'm excited to see CC pursuing a solution. 

Edited by LordVetinari

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8 hours ago, lll_lll said:

To the average person this very well could mean nothing. But to those knee deep in the banking/CU business this is a HUGE thing. This is going to squeeze the giblets of banks forcing them to compete and compete in a hurry. After all xRapid costs 1/10th  of a cent (+or-) to send the $$$, and of course it takes seconds not minutes (or days). Of course cheap and fast only happens if the CU uses, wait for it....XRP.

Can't get cheap and fast using, let's say Bitcoin or Ethereum.

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