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PunishmentOfLuxury

Finablr's UAE Exchange, Ripple to begin blockchain payments by first quarter

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11 minutes ago, Cometome said:

No xrp used not significant

How do you know?

It states 'blockchain' and xCurrent is not blockchain. Also it seems odd that they would restrict transactions to only a couple of banks in Asia if nostro/vostro is to be used.

Edited by PunishmentOfLuxury

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20 minutes ago, PunishmentOfLuxury said:

How do you know?

It states 'blockchain' and xCurrent is not blockchain. Also it seems odd that they would restrict transactions to only a couple of banks in Asia if nostro/vostro is to be used.

Yes, and another proof for xRapid: 

I think the expected cost saving, (which can be found on UAE government site) simply not possible with xCurrent.

Edited by Barnabas

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XRP needs more trader-driven liquidity. It probably needs to be at least $5+ before the markets have the required depth to make xRapid useful. When the bull market returns in earnest, that should encourage institutions to slowly begin dipping their toes in. I want this all to happen yesterday of course, but judging by the reticence / heel-dragging of the SEC to give the desperately-needed regulatory clarity, it could easily take several years before this is used on the scale many of us are hoping for.

Edited by JA8

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5 minutes ago, PunishmentOfLuxury said:

How do you know?

It states 'blockchain' and xCurrent is not blockchain. Also it seems odd that they would restrict transactions to only a couple of banks in Asia if nostro/vostro is to be used.

According to his/her post history he/she is and was not really positive on XRP ever and, as i would assume, not even invested in it (just my guess)

back to topic, i think UAE Exchange is not using XRP in this phase -- i've read somewhere they can't start with using xrapid yet duo to regulatory uncertainty (but they are interested in it)

i think they are now starting to settle their payments with a FIAT-backed DA (in a sort of "walled garden") on ripplenet - therefore no threat to XRP

but regardless, i think it is great News to have UAE-Exchange on Ripplenet and seeing them rolling out in Q1 2019

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18 minutes ago, JBW said:

It should make no difference to us do they use xCurrent or xRapid for now. The point here is imo that they use Ripple tech. Eventually they will use xRapid... if xCurrent works the way they want.

Totally agree.

I also think too that Singapore, Japan and places like Dubai will leverage the leapfrog affect over other world financial centers any chance they can. Our SEC lag is their benefit. Exponential growth in xrp is going to happen during this next year. Exponential growth will happen again when the US regulators get their act together.  

Edited by VanGogh

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5 hours ago, PunishmentOfLuxury said:

How do you know?

It states 'blockchain' and xCurrent is not blockchain. Also it seems odd that they would restrict transactions to only a couple of banks in Asia if nostro/vostro is to be used.

Lol dude xCurrent is blockchain tech

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