.@Ripple and @santanderuk announce partnership with @AmericanExpress
- Business customers' payments will be routed through Ripple
- $XRP will "come into play" later down the line
#XRPthestandardhttps://www.cnbc.com/2017/11/16/american-express-santander-team-up-with-ripple-on-blockchain-platform.html …
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Sooo.. there is no immediate need for the token?
1 reply 0 retweets 1 like -
Replying to @Dark_Realist @Ripple and
There is. Use of XRP would cut costs even more. Especially in exotic corridors. USA > UK is not an exotic corridor, but AmEx will expand to more corridors. Additionally, banks wait for monetary authorities to set up an adequate regulatory climate for cryptocurrencies.
1 reply 0 retweets 5 likes -
I see. Regalutory uncertainty regarding crypto isn't something you want as a financial institution willing to integrate it :p How can banks benefit from the Ripple network without using the token though?
2 replies 0 retweets 1 like -
Replying to @Dark_Realist @XRPedia and
One of the big criticisms of XRP is it being optional and not even required to use the network, and I seem to recall multiple Ripple investors say that false was and that the network needed XRP ...
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Replying to @Dark_Realist @Ripple and
It's true. Keep in mind that there is a payment network (RippleNet) and that there is a settlement ledger (XRP Ledger). Banks have so far joined RippleNet, for which no XRP is needed. Next step is to settle payments on the XRP ledger, on which every transaction costs XRP.
2 replies 3 retweets 5 likes
Thanks for the clarification. Appreciate it.
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