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Ripple, Moneygram, FAB -- Payit


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28 minutes ago, Cooliozxrp said:

It is sad to see your mind's clouded by hopium

Not clouded by hopium, just willing to be open to all possibilities good and bad.  You are the one who is closing down on possible interpretations.  Are you trolling or something?  If so you have something real to feel sad about

Edited by Julian_Williams
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1 hour ago, Julian_Williams said:

Not clouded by hopium, just willing to be open to all possibilities good and bad.  You are the one who is closing down on possible interpretations.  Are you trolling or something?  If so you have something real to feel sad about

Accusing people of trolling just because you can't handle the truth is sad

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I'm gonna say this in big capital letters for those that didn't see my first comment.

THE ARTICLES LITERALLY SAYS THE PAYIT APP WAS BUILT USING XRAPID TECHNOLOGY.

So now if you guys could kindly please, re-read the article, and see where it says this, because it does say it.\

"

United Arab Emirates bank, First Abu Dhabi Bank (FAB), launched the Payit digital asset wallet earlier on Tuesday much to the delight of users of the financial institution.

A report from Gulf News, a technological news website in the region confirms a partnership between FAB and MoneyGram to improve the cash transfer across countries while reducing the fees to a minimum.

Owing to the recent 10% acquisition of the remittance agent by Ripple Inc. Payit payment systems are built on xRapid technology."

 

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13 minutes ago, thetamind said:

I'm gonna say this in big capital letters for those that didn't see my first comment.

THE ARTICLES LITERALLY SAYS THE PAYIT APP WAS BUILT USING XRAPID TECHNOLOGY.

So now if you guys could kindly please, re-read the article, and see where it says this, because it does say it.\

"

United Arab Emirates bank, First Abu Dhabi Bank (FAB), launched the Payit digital asset wallet earlier on Tuesday much to the delight of users of the financial institution.

A report from Gulf News, a technological news website in the region confirms a partnership between FAB and MoneyGram to improve the cash transfer across countries while reducing the fees to a minimum.

Owing to the recent 10% acquisition of the remittance agent by Ripple Inc. Payit payment systems are built on xRapid technology."

 

I think his point was that is was an assumption made by the writers of the article. And we've seen several of these articles be wrong recently. But I think this one has some legs at least.

The actual Gulf news article that it references is here:

https://gulfnews.com/business/banking/a-new-era-for-seamless-payments-in-the-uae-1.1561877713624

It does not mention XRP or X-rapid so its the writer's assumption.

We'll see how much volume, if any, this brings.

Edited by Archbob
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3 hours ago, Cooliozxrp said:

It is sad to see your mind's clouded by hopium

I will agree that there is no direct proof that xRapid is being utilized at the moment. However, It's not "hopium" or "far-fetch" in acknowledging that the foundation is quietly being laid for the eventual incorporation or use of xRapid.  We have proof that Money Gram has collaborated with First Abu Dhabi Bank in building their bank digital wallet, called PayIt. You couple this to the most recent news of Ripple and MGs recent partnership that WILL incorporate XRP/xRapid and one can see where this is all going. Also, while we don't yet know the particulars of the XRP/xRapid arrangement between Ripple and MG, because of MoneyGram’s infrastructure into most exotic corridors that are not well serviced by the larger correspondent banking system, MoneyGram can essentially become one of Ripple’s Multi-Hop exchange for the PayIt digital wallet. Remember, that Multi-Hop allows for regular xCurrent and non-xCurrent partners to utilize and take advantage of xRapid's on-demand liquidity and still remain compliant if holding digital asset is forbidden. So, in essences, MG can act as a global correspondent bank that facilitates the payments for, let's say, First Abu Dhabi Bank's PayIt digital wallet without the bank having to hold XRP at any step in the payment-flow process.You may be thinking, "how does MG accomplish this feat if they are facilitating payments in a country that lacks regulatory clarity around digital assets?" The answer is that MG can originate the payment from one of their subsidiaries in a country like Singapore that have clear rules and regulations around digital assets so the transaction process remains compliant. 

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22 minutes ago, AnotherFrenchGuy said:

I live in Dubaï and I can tell you that Payit starting to be something here.

The governement wants the UAE to become the first cashless society.  There are ads in cinemas and the internet incitating to use Payit here.

Yes, I actually use this app and not read this from some dodgy crypto website but this has nothing to do with xrp. The app was launched in march 2018...as usual connecting dots when there isn't one is just pure hopium

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3 minutes ago, AnotherFrenchGuy said:

No it's not. It was lauched before but updated. 
When you want to send money overseas, what are the 4 countries that they propose ? X rapid corridors. With 0 fees.

And when you try to send to an another country. Bang : fees.

IMG_3066.PNG

3 of those have no xrapid corridors. Yes this app was updated in April , nothing to do with xrp. Western Union has an app also you can use to transfer money instantly to 200 countries,does it use xrapid? Nope

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