Enterprise Adoption of Ripple and XRP for Cross-Border Payments on the Rise, Says Australian Exchange BTC Markets

[Guest]

https://dailyhodl.com/2020/05/08/enterprise-adoption-of-ripple-and-xrp-for-cross-border-payments-on-the-rise-says-australian-exchange-btc-markets/

[panmores]

This is good news yet it's kind of empty talk without giving names. Another unspecific "dozens of banks"...

Edited May 9, 2020 by panmores

[Trisky]

6 hours ago, panmores said:

This is good news yet it's kind of empty talk without giving names. Another unspecific "dozens of banks"...

Sorry @panmores, I believe the article refers to the Ripple partnership with Australia’s leading crypto exchange BTC Markets. 

Quote

BTC Markets CEO, Caroline Bowler, says the partnership has created a new source of trading volume on its exchange, driven by businesses.

Linking to this article, explaining the role of the exchange and the benefits of ODL (and $ 179M moving through it past year):

Quote

“Companies are using the asset to make more effective cross-border payments. This use case is a real differentiator to other digital assets…

Using XRP to cut transaction fees and make same-day payments brings real benefits and fixes the problems of the existing system. XRP is a bridge between traditional financial institutions and the new world of fintech.

The amazing thing about ODL is that businesses using XRP for faster and cheaper cross-border payments are driving volume through our exchange, which is unique in the crypto markets. It fits with our business model seamlessly and gives us a huge competitive advantage.”

Correct me if I came to the wrong conclusion in relation to your reply please.

Edited May 9, 2020 by Trisky

[panmores]

The "enterprise adoption" mentioned in the title, wouldn't that refer to enterprises adopting XRP for cross-border payments? You're not saying that refers to BTC Markets. I'd love to know who those enterprises are, @Trisky.

[Dogowner5]

9 hours ago, panmores said:

The "enterprise adoption" mentioned in the title, wouldn't that refer to enterprises adopting XRP for cross-border payments? You're not saying that refers to BTC Markets. I'd love to know who those enterprises are, @Trisky.

BTC markets is the AUD exchange used in ODL payments by FlashFx.  FlashFX say that they are now seeing multiple companies using their facility to make cross border payments.

The volume was growing (although appears to be in holding pattern during CV19 lockdown) but is not huge yet.
 

The 179mill figure is from a quote by Bitmex Bitso (the Mexican ODL exchange) not BTC Markets.

Its funny how after a couple of posts the Chinese whispers game means that everything gets mangled.

There is an AMA thread on here by Flashfx.

 

 

Edited May 9, 2020 by Dogowner5
Fixed my mangled exchange name. Thanks Trisky.

[Julian_Williams]

Crypto Eri also broke this story yesterday - using the same source material so she is not adding a lot to what you can read in OP link, however Eri is always worth watching anyway, so I am providing that link.

Also some months ago Nicolas Steiger on the AMA FlashFX thread mentions that lots of banks are coming to him to use his services, so this is more confirmatioon of what he told us was happening

 

[Trisky]

2 hours ago, panmores said:

The "enterprise adoption" mentioned in the title, wouldn't that refer to enterprises adopting XRP for cross-border payments? You're not saying that refers to BTC Markets. I'd love to know who those enterprises are, @Trisky.

I didn't interpreted it that way myself and I always read an article in full. The title made sense to me and still does. Like @Dogowner5 said 'BTC markets is the AUD exchange used in ODL payments by FlashFx.'  Maybe I am missing your point?

1 hour ago, Dogowner5 said:

The 179mill figure is from a quote by Bitmex not BTC Markets.

Bitso but thx for the correction and will adjust my reply:

 

 

Edited May 9, 2020 by Trisky

[Dogowner5]

6 hours ago, Trisky said:

Bitso but thx for the correction and will adjust my reply:

Classic!   See what I mean about Chinese whispers making info crap during discussions?    

Thanks for correcting me and I love how the universe just made a jest with me as the butt.   

I will fix mine too.  

[Julian_Williams]

The Thai Baht /US Dollar  is featuring large in today's ODL utility tracker - and today's vol for a Saturday is also exceptional.  For weeks there have been rumours relayed through Crypto Eri that this corridor has been waiting regulatory clarity to start trading?

 

[Dogowner5]

24 minutes ago, Julian_Williams said:

The Thai Baht /US Dollar  is featuring large in today's ODL utility tracker

I think that’s a glitch in the matrix.  It doesn’t look like that now.  Have another look.  Also the numbers don’t seem right if there was that much volume,

 

[nakedzzrp]

The "enterprise and institutions" ripple like to mention are just shady crypto exchanges that ripple like to dump their XRPs to over the past few years. No corporate company has ever announced or been found to have any XRPs for the past 3 years.