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Euro Exim Bank: 1st bank to use xRapid


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** CONFIRMED 1st BANK TO USE XRAPID ** "Working collaboratively with #Ripple and selected counterparts, we have designed, tested and are implementing both xCurrent and xRapid in record time..." K

I'd suggest that both of you (codiusrex as well) take a step back and look at the World-Wide infrastructure that Ripple has built, and the increasingly rapid pace of its adoption. This is the proverbi

Banks will never use Xrp

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2 hours ago, Cryptsycrackers said:

One of the primary use cases for xRapid is being able to get smaller FIs on a closer to even playing field with the big players.  They are doing exactly what they said they would initially be doing, which is going after the low-hanging fruit.

So what does this mean? Are they giving Xrapid away for free to the low hanging fruit banks?

Just take a look at Euro Exim's website. It's nothing but a huge advertisement for Ripple with phrases such as Xcurrent and Xrapid plastered in each and every area of their website.

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3 minutes ago, Moonraker said:

So what does this mean? Are they giving Xrapid away for free to the low hanging fruit banks?

Just take a look at Euro Exim's website. It's nothing but a huge advertisement for Ripple with phrases such as Xcurrent and Xrapid plastered in each and every area of their website.

Good, it's about time someone is advertising that they run their business using Ripple/XRP.

It doesn't make any difference to me whether they pay Ripple 100 million for the privilege or if Ripple pays them.  I'm here for the money.  Whatever encourages adoption is what I want them to be doing.

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18 minutes ago, Cryptsycrackers said:

Good, it's about time someone is advertising that they run their business using Ripple/XRP.

It doesn't make any difference to me whether they pay Ripple 100 million for the privilege or if Ripple pays them.  I'm here for the money.  Whatever encourages adoption is what I want them to be doing.

Yes, but you have to ask yourself - is this really adoption? Is a bank this small really going to send payments of more than £100 (and that's being generous) via xRapid? 

It's clearly a ploy on Ripple's behalf to show the world that they've kept their promise and word by announcing a bank has gone live with using Xrapid. 

Clearly a bank this small with literally no assets would jump at the opportunity to be paid handsomely by Ripple to promote its products.

This is nothing but a publicity stunt created by Ripple.

I'm also here for the money just as you are but I'm not here to be made a fool of.

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11 minutes ago, Moonraker said:

Yes, but you have to ask yourself - is this really adoption? Is a bank this small really going to send payments of more than £100 (and that's being generous) via xRapid? 

It's clearly a ploy on Ripple's behalf to show the world that they've kept their promise and word by announcing a bank has gone live with using Xrapid. 

Clearly a bank this small with literally no assets would jump at the opportunity to be paid handsomely by Ripple to promote its products.

This is nothing but a publicity stunt created by Ripple.

I'm also here for the money just as you are but I'm not here to be made a fool of.

If you don't understand their initial goals that isn't my fault.  They're doing exactly what they've said they'd do, step by step.  The whole point of xRapid is that you don't have to have a ton of assets to move money cross borders.  If the worst ******* bank on the planet is able to successfully move money in almost real-time with xRapid, that just further proves Ripple's point and their software.

Edited by Cryptsycrackers
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6 minutes ago, Cryptsycrackers said:

If you don't understand their initial goals that isn't my fault.  They're doing exactly what they've said they'd do, step by step.  The whole point of xRapid is that you don't have to have a ton of assets to move money cross borders.  If the worst ******* bank on the planet is able to successfully move money in almost real-time with xRapid, that just further proves Ripple's point and their software.

The point is that this bank has no money to move cross borders in the first place!

And I'll ask the question again which hasn't been answered - where is this bank getting the money to implement Xrapid in the first place??

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Just now, Moonraker said:

The point is that this bank has no money to move cross borders in the first place!

Do you think it's their own money they are trying to move cross borders, or rather customer's money?  If they only move 1000 dollars a week faster than the biggest bank on the planet can, that's proven the usefulness of the software and made the big bank look like ****.

If you don't understand that much, well, I can't explain it any better.

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1 minute ago, Cryptsycrackers said:

Do you think it's their own money they are trying to move cross borders, or rather customer's money?  If they only move 1000 dollars a week faster than the biggest bank on the planet can, that's proven the usefulness of the software and made the big bank look like ****.

If you don't understand that much, well, I can't explain it any better.

Of course it's the customers money. But how many customers do you think a bank of this calibre has and how many of them will send money cross border? 

We all know the technology and software works, Ripple has demonstrated this many times previously. 

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31 minutes ago, Moonraker said:

Of course it's the customers money. But how many customers do you think a bank of this calibre has and how many of them will send money cross border? 

We all know the technology and software works, Ripple has demonstrated this many times previously. 

We know the tech works, but there is a lack of real world usage evidence. Ripple cannot go to any bank and say hey use our product, it will save you money. They want to see proof. Not a proof of concept, not testing, but real world production proof. Its great that Murcury and blink-of-an-eye-guy hype XRP but it isnt proof. Taking small businesses and having them implement this tech for free or no cost is literally the best advertising Ripple can get. Real world proof. Look at Transferwise. Their business has exploded since they have used Ripple tech. They intend to upgrade to Xrapid soon. What happens when other money movers are being destroyed by some company using new tech? They will see it actually works and they want to use it themselves. *Insert mandatory crawl, walk, run quote here*

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Yes, but for how long? And only one company.  A statistical sample of one which is NOT PROOF, it is evidence. More companies with success will inspire more confidence. This will happen in time. I don't understand why people have the mentality of hey look XRapid works so (insert huge name here) will use it soon. Smaller companies first. Then when larger entities see it works and that the risk of upgrading to this tech is offset by the benefits, they will come.  It will take time, this isnt 589 EOY

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