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Panosmek

Go-Jek buys fintech startup and xRapid partner Coins.ph for $72M ahead of Philippines expansion

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Wow this is fantastic news, companies are starting to take notice!   I have always felt one of the biggest barometers of XRP success would be watching the acquisitions of some of the early pioneers of Ripple tech. As this ball gets rolling i would not be surprised to see some of our smaller ripplenet members sell out to the big boys.  

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On the topic of Coins.ph. There are a lot of very small transactions going from a wallet activated through Binance to Coins.ph. Could these be some kind of stability/latency test on the ledger?

https://bithomp.com/explorer/rUtCyL45mkqkSqvnoGMHJsqopmrAr1azDa

https://bithomp.com/explorer/rU2mEJSLqBRkYLVTv55rFTgQajkLTnT6mA

They seem to be constantly sending the equivalent of 0.0005 USD.

Edited by mandelbaum

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1 hour ago, mandelbaum said:

They seem to be constantly sending the equivalent of 0.0005 USD.

This is pretty interesting. I don’t have the wallet address but this is the kind of weird transactions we saw with the wallet associated with FlashFx too. Would be awesome to understand what is happening here.

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This could be a preliminary move for Go-Jek before using crypto on their own home turf.

Go-Jek is a massive player in indonesian ride hailing app ironically thanks to its traffic grid problem. Wants to see that movie but running low in time, get go jek to queue up and pick the ticket up for you. 

Go-Jek allow their driver to be immediately paid. This is possible due to members keeping some minimum funds balance inside their account. As it grows, Go Jek is more or less becoming a depository taking financial institution. Imagine what xrp liquidity can do to its cash flow. 

Plus, Indonesian government has ruled that cryptocurrency to be regulated as commodity. 

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This could be a preliminary move for Go-Jek before using crypto on their own home turf.
Go-Jek is a massive player in indonesian ride hailing app ironically thanks to its traffic grid problem. Wants to see that movie but running low in time, get go jek to queue up and pick the ticket up for you. 
Go-Jek allow their driver to be immediately paid. This is possible due to members keeping some minimum funds balance inside their account. As it grows, Go Jek is more or less becoming a depository taking financial institution. Imagine what xrp liquidity can do to its cash flow. 
Plus, Indonesian government has ruled that cryptocurrency to be regulated as commodity. 

Remember Ripple often prejected Uber as a good example to benefit from ripplenet...

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Forgot to mention that local payment rail and digital penetration in indonesia is well developed. Payment using mobile number has been available for quite some times. Ripplenet or something similar is a logical extension.

Yes, Ripple team has met with the indonesian central bank a while back (received an uncut currency as commemorative gesture). 

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Man the Philippines is turning into one of the Mecca's of the crypto world.

 

I know a lot of people in the FIRE community retire there.

If xrp makes me rich I would strongly consider buying property in the Philippines.

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