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Mercury Global expanding ODL with XRP & Stella Mexico/UK/S Africa/Philippines/Africa


Julian_Williams
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Shout out for @WrathofKahneman for posting this on twitter

https://www.mercury.global/insights/the-revolution-will-not-be-centralised

 

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Working predominantly with Ripple Tech Labs Inc. (see here, here and here), we successfully tested and launched payments into Mexico and the Philippines using the XRP blockchain. We’re still breaking new frontiers too.

 

In August 2021, Mercury completed the successful testing of cross-border payments between South Africa and the UK using crypto assets (specifically XRP). This was done inside the Intergovernmental Financial Working Group (IFWG) regulatory sandbox. Have a look here. 

 

In the spirit of confidentiality agreed to within the sandbox, we can't say much more than that. Suffice it to say that blockchain payments are much cheaper and much faster - and therefore are the future, whether you're talking Mexico, the Philippines, South Africa or anywhere else.

 

Mercury is so bullish on blockchain we're already scoping future projects. It's looking likely we'll soon be testing payments into other African countries using Stellar – we’re going to shoot for the stars with this one.

 

Today, if you hold or trade crypto assets, or are looking to on-ramp or off-ramp between fiat and crypto, Mercury can provide you with a crypto-friendly bank account held in your name (individual or corporate). You can open your account quickly and easily from almost anywhere in the world.

 

Tomorrow, the future belongs to blockchain. It's not a case of if, it's a case of when your money begins to move 'on-chain'.

 

Mercury will be at the forefront of that change. The revolution will not be centralised.

 

I am interested in the bank account that values crypto trading.  I am wondering if they custody crypto too

Edited by Julian_Williams
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  • Julian_Williams changed the title to Mercury Global expanding ODL with XRP & Stella Mexico/UK/S Africa/Philippines/Africa
1 hour ago, WrathofKahneman said:

Yeah, it's kind of wild - in the last ~24hrs, they've tweeted out

  • working w/ XRP in the Philipines,
  • XLM in Africa and
  • XRP again in S. Africa.  

It will be interesting to see what countries/gateways would be involved w/ XLM

 


Since they seem happy with XRP, and the African exchanges are more likely more liquid in XRP than XLM….  the only thing I can think of is that Jed is offering big incentives to them.

 

Otherwise a business is generally not inclined to to try a new partner if their needs are already being met by an existing one.  So incentives seems the only likely reason to me.

 

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