Jump to content

how transfer from usa dollars to euro work

Recommended Posts


I watched the videos below but I have some questions.

Could you please tell me if my understanding is correct and answer some questions?

They have a USA bank associate with him (Bank of America) and they also have a Fidor account.
EUR gateway: software that Ripple Labs developed.
Fidor sync:
    - plugin that listen to both sides;
    - listens for new transactions;
    - initiates a SEPA transfer using that information;
    - update status to successful

1) So SEPA don't know and doesn't need to know about Ripple network? It just execute a bank transaction created by Fidor?
But in order to do this, Fidor actually needs to debit from one of its real bank accounts to transfer to the beneficiary, right?
Because Fidor actually didn't receive euros, only issuance in euros.

2) How does it create an issuance from its USA dollars?
Would it need to buy the issuance from some gateway?

But from whom the first gateway bought issuance from?????!!!!!

Thank you very much!!!



Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Create New...