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Mercury FX: Real-World Use of Ripple’s XRP-Powered xRapid Significantly Faster and Cheaper Than Swift


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https://dailyhodl.com/2019/02/21/mercury-fx-real-world-use-of-ripples-xrp-powered-xrapid-significantly-faster-and-cheaper-than-swift/

 

“We did our first live commercial payments a couple of weeks ago. So we are now making payments for a UK corporate to Mexico to import Mexican food. And they are moving a lot faster than payments would go through Swift, at a much lower cost.

So we’ve already had the Mexican channel open up. It is live. It is being used. And I think today or tomorrow we’re testing the Philippines with an eye to going live in the next week or so.”

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I think Western Union has seen the writing on the wall and did a quick u-turn in their thinking. They're once again working with Ripple and recently stated that they now see the utility in that it would help them to gain access to corridors in which they don't have any infrastructure. It might not have made sense for WU to rework their entire system over to the Ripple/xrp model, but to use it in addition to theirs, I think, is how they're going to attempt to remain competitive. It's going to get crazy in the next few years. It'll be interesting to see how it all plays out and how many 'no names' of today, will become major players in the coming years.

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