Mohsin Posted January 22, 2019 Share Posted January 22, 2019 I am studying ripple's product xCurrent. I have understood how xCurrent works however I have a confusion on Remittance when more than 2 banks are involved. Scenario 1: For e.g An account holder of Bank 'AAA' in Pakistan wants to send USD 1000 to account holder of Bank 'BBB in Ghana. Both these Bank do not have banking relationship with each other however both are using ripple network. Both these Banks are maintaining their Nostro Account in Bank 'CCC' in USA (acting as Correspondent Bank). How will transaction take place thru xCurrent and how will account holder of Bank 'BBB' will get amount in local currency of Ghana Cedi? Scenario 2: For e.g An account holder of Bank 'AAA' in Pakistan wants to send USD 1000 to account holder of Bank 'BBB in Ghana. Both these Bank do not have banking relationship with each other however both are using ripple network. Bank 'AAA' has Nostro account with Bank 'CCC' in USA (acting as correspondent Bank of Bank 'AAA'). Bank 'BBB' has Nostro account Bank 'DDD' in South Africa (acting as correspondent Bank of Bank 'BBB'). Banks 'CCC' and 'DDD' are maintaining each other's Accounts. How will transaction take place thru xCurrent and how will account holder of Bank 'BBB' will get amount in local currency of Ghana Cedi? Thanks Link to comment Share on other sites More sharing options...
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