Can anyone use XRP to get USD/EUR directly?

[Findeton]

I understand that banks use the Interledger to move around euros, dollars etc. I also know that the Interledger/ripple platforms are open source and that anyone can run a ripple server.

But can I, for example, have an Euro account on a bank connected to the ripple network? Because right now the only way I think I can do something like that is using the kraken (or any other exchange) API.

[Takio]

Currently no, in some time probably not, in distant future maybe yes.

[kiwissz]

Sandander, NBAD abu dhabi yes

[Lando]

I sent USD to my bank account using Gatehub.

You can do this right now using XRP. It took 6 days, but it cleared! 

Edited July 1, 2017 by Lando

[Xilobyte]

 @Findeton You can do the same in the EU also. You just have to have the EU bank account first and then be a member of an exchange capable of sending to EU banks. Technically if you had Bitrex, Gatehub or any US based exchange, you can send money to them, but XRP and then transfer that to say, Bitstamp which is an EU exchange, then as a member of Bitstamp you can then withdrawal to your EU bank. You basically save maybe $40 in transfer fees.

[Bridgette]

hi there 

Im trying yo understand the whole process, could i ask a few questions? im in south Africa and if i purchase XRP , who do i convert to money in my pocket. Q 2 how do i purchase them from what program do i download that is safe from being stolen. Thanks

[tulo]

Unless banks directly connect to ILP (and offer it to the customers) you can't.

[BurtMacklin]

On 6/30/2017 at 9:14 PM, Lando said:

I sent USD to my bank account using Gatehub.

You can do this right now using XRP. It took 6 days, but it cleared! 

Did you have to pay a fee for that??

[Lando]

Yes.

$15 on top of my minimum $50 transfer.