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djdhrubs

Is there any way this isn’t ODL/ XRP?

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6 hours ago, djdhrubs said:

You're quoting two different people there though. The 50% stuff was an earlier quote about One Pay FX, right? The earlier stuff in your paragraph was this guy's quote just the other day about those 4 corridors.

And how do you explain 'tight spreads'? Is that just in relation to fiat to fiat spreads, or could it be about XRP liquidity? I'm asking because I'm not sure myself.

These are the questions I find myself asking as well. A few things worth noting about Santander’s two apps:

1) OnePay FX is xCurrent, currently live and accounting for 50% of their FX. It is for Santander customers only.

2) PagoFX is due to launch soon, in 4 corridors, and has “tight spreads.” Marketing says it’s generally targeted at “the unbanked,” specifically non-Santander customers, and can help them send money instantly. Due to Santander’s deep involvement and investment in Ripple I’d say it’s almost certainly Ripple-based. 

Why two apps? One has a Santander customer login, the other doesn’t. But if PagoFX is for the unbanked, how do you get money into the app to send it in the first place? In-person cash delivery? Crypto? I think this is targeted at small-value remittance and there’s a good chance it’s ODL.

Edited by ADingoAteMyXRP

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2 hours ago, ADingoAteMyXRP said:

These are the questions I find myself asking as well. A few things worth noting about Santander’s two apps:

1) OnePay FX is xCurrent, currently live and accounting for 50% of their FX. It is for Santander customers only.

2) PagoFX is due to launch soon, in 4 corridors, and has “tight spreads.” Marketing says it’s generally targeted at “the unbanked,” specifically non-Santander customers, and can help them send money instantly. Due to Santander’s deep involvement and investment in Ripple I’d say it’s almost certainly Ripple-based. 

Why two apps? One has a Santander customer login, the other doesn’t. But if PagoFX is for the unbanked, how do you get money into the app to send it in the first place? In-person cash delivery? Crypto? I think this is targeted at small-value remittance and there’s a good chance it’s ODL.

Ah cool that makes sense. Yeah I definitely felt that the person talking in the brief video clip I posted wasn’t talking about one pay fx. 

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I highly doubt it's ODL. It would be more likely Santander using their local operations in each country to do the transfer of funds by their internal ledgers of each group. And using xCurrent as the message between them. 
This is pure speculation on my part but would seem a very easy efficient thing for them to do. 
I would imagine down the line they'd move to ODL, but this to me doesn't look like it is.

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On 11/17/2019 at 11:35 AM, TheyLive said:

That was a bit harsh

That may be, but the real crime is that the shitposting is what destroyed this forum, which was once filled with valuable discours and information.

No doubt i'll receive a "witty" response to harvest precious internet points, medals and stickers, demonstrating the root of the problem.

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On 11/18/2019 at 12:38 AM, carpetbelly said:

I highly doubt it's ODL. It would be more likely Santander using their local operations in each country to do the transfer of funds by their internal ledgers of each group. And using xCurrent as the message between them. 
This is pure speculation on my part but would seem a very easy efficient thing for them to do. 
I would imagine down the line they'd move to ODL, but this to me doesn't look like it is.

Why would they need to use only just xCurrent (meaning fiat-fiat transfers), if they already use Swift gpi in their production systems?

https://www.swift.com/news-events/news/santander-goes-live-with-swift-gpi

Swift gpi is basically xCurrent. Bearing in mind that xCurrent 4.0 can use ODL anytime, i think that they will use XRP in some of their transfers (where liquidity allows it) and Moneygram acting as a hub bypassing regulation restrictions.

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5 hours ago, Gepster said:

That may be, but the real crime is that the shitposting is what destroyed this forum, which was once filled with valuable discours and information.

No doubt i'll receive a "witty" response to harvest precious internet points, medals and stickers, demonstrating the root of the problem.

Glad you logged back in! :)

Do you think my original post was a shitpost? I was actually just asking a question to the forum about whether the Santander chap in the video clip may be talking about XRP use, because I didn't really know the answer myself and was wondering out loud what he may have been talking about. I kinda got an out of proportion angry response from you though, and I'm still not sure why.

I humbly apologise that I can't post to the high level that you expect. I didn't realise that asking questions of the good people on the general forum on a topic I don't fully understand could ruffle someone's feathers so much. 

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1 hour ago, djdhrubs said:

Do you think my original post was a shitpost?

It's the title that does it...

There is simply no way they are using XRP as an intermediary asset with Onepay FX. They've publicly stated there are no plans for using it in the future either.

- You could Google for statements by Ripple, Santander (from Ana Botín or John Whelan)

or

- Monitor transactions on XRPL. The Billions they are running through Ripplenet would show on the XRPL. Even if they wanted to run it all through ODL, they couldn't because the Liquidity isn't there. 

I'll see myself out.

Edited by Gepster

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18 minutes ago, Gepster said:

It's the title that does it...

There is simply no way they are using XRP as an intermediary asset with Onepay FX. They've publicly stated there are no plans for using it in the future either.

- You could Google for statements by Ripple, Santander (from Ana Botín or John Whelan)

or

- Monitor transactions on XRPL. The Billions they are running through Ripplenet would show on the XRPL. Even if they wanted to run it all through ODL, they couldn't because the Liquidity isn't there. 

I'll see myself out.

Ok. But was he talking about one pay fx? I didn’t think he was? Happy to be wrong.

In that clip he didn’t mention One Pay FX. He also mentioned 4 corridors. Isn’t One Pay FX involving more than 4 corridors?

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2 minutes ago, djdhrubs said:

Ok. But was he talking about one pay fx? I didn’t think he was? Happy to be wrong.

He didnt say it, but Onepay FX is Santanders ''blockchain based remittance service''.

Until recently it was only open for a select group of people( employees iirc). So 4-10 corridors sounds right.

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40 minutes ago, Gepster said:

He didnt say it, but Onepay FX is Santanders ''blockchain based remittance service''.

Until recently it was only open for a select group of people( employees iirc). So 4-10 corridors sounds right.

Maybe you're right here. Well, not wholly correct. Just a brief bit of googling produced this.

https://www.santander.com/csgs/Satellite/CFWCSancomQP01/en_GB/Corporate/Press-room/Santander-News/2018/04/12/Santander-launches-the-first-blockchain-based-international-money-transfer-service-across-four-countries-.html

In that, released in April 2018 (!) it says it was live from that day to retail customers in UK, Poland, Spain and Brazil.

“From today, customers in the UK can use One Pay to transfer money across Europe and to the US. In Spain, customers can transfer to UK and US, while customers in Brazil and Poland can transfer to the UK.

“Transfers to Europe can be made on the same day and we are aiming to deliver instant transfers across several markets by the summer."

So that was a year and a half ago. The way he was talking about things on this video, it was a bit like something recently released. However you're right I could well be reading into it a bit and making assumptions.

Edited by djdhrubs

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1 hour ago, Gepster said:

 

Nice. Thanks so much for posting that.

So yeah, he never once mentions One Pay FX or Pago FX. He only briefly touches on cross border payments in this entire presentation. He seems more interested in smart contracts and he spends a while next to the screen talking about them during which I couldn't hear much on my desktop at work.

1. Correct me if I'm wrong, but at 11.00 mins he talks about how they weren't that interested in public blockchains until recently since technology and regulatory clarity have kicked on, and he says something like 'we do some of those ourselves' but he mumbles a bit as he says it so I'm not 100% sure.

2. At about 10.00 mins he talks about why he thinks bitcoin, ether, XRP and litecoin have value. He says maybe we can get into that more during Q and A but that section is not in this video (Q and A I mean).

3. The thing he uses in his job most is ethereum, because it's programmable, and he talks about smart contracts for a bit.

So yeah, I'd agree it's probably nothing to do with ODL yet, just xCurrent. Although there are some pretty bullish hints there about crypto.

Edited by djdhrubs

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