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teddybear

Transfering XRP to bank one day?

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Hi all

What do you think, will we be able to send our XRP holdings to our bank account (or a xrp sub account) one day, say in 4-6 years, assuming adoption is there?

That would be nice, no? We wouldn't have to go through exchanges when we make the big cashout.

(OK, origin of funds would have to be proved, but that's doable).

Any thoughts?

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Once aml (anti money laundering) is resolved, this would become reality.  The reason why bitcoin/alt coins has not been widely adopted is due to exchange and bank's slow adoption given widespread pandemic globally.  Our regulators are keen to put in place proper regulations to confirm legitimacy of the origin of funds and whether this may be from illicit means or from those individuals/parties under watchful eyes.  Ripple's strategy is to launch xrp via banks globally for initial adoption before deployment to consumers etc.  yes, we're likely 5+ years away but we should see this in our lifetime ...

Edited by bookworm

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Just a matter of time.

Swiss Falcon Private Bank allows customers to buy and hold Bitcoin and soon Ethereum, Litecoin and Bitcoin Cash.

More banks to follow for sure, but most might not move before basic regulation is in place. And most banks won't ever touch Monero.

Edited by panmores

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43 minutes ago, panmores said:

Just a matter of time.

Swiss Falcon Private Bank allows customers to buy and hold Bitcoin and soon Ethereum, Litecoin and Bitcoin Cash.

More banks to follow for sure, but most might not move before basic regulation is in place. And most banks won't ever touch Monero.

True. I walked by their office multiple times. They got the BTC logo printed on their entry door.

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Some banks or FIs will as a selling point, or even as a investment asset class, but most wont. If Ripple integration works like we all want we wont even know it is puttering behind the scenes saving banks money

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40 minutes ago, Mercury said:

Some banks or FIs will as a selling point, or even as a investment asset class, but most wont. If Ripple integration works like we all want we wont even know it is puttering behind the scenes saving banks money

Came here to say this. 

If XRP does what it does best, most people won't even know they're using it. If it ever gets used as an asset I imagine it'll be more in the realm of bonds. Not because of any dividend but because appreciation will be more or less tied to global productivity. 

But the road to the way there....that is quite a steep hill indeeeeed. 

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1 hour ago, Hodlezerper said:

Came here to say this. 

If XRP does what it does best, most people won't even know they're using it. If it ever gets used as an asset I imagine it'll be more in the realm of bonds. Not because of any dividend but because appreciation will be more or less tied to global productivity. 

But the road to the way there....that is quite a steep hill indeeeeed. 

Bonds don't pay dividends either.

*justbeingasmarta$$*

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