Altcoin News: Mercury FX Will Use the Ripple’s xRapid Solution for International Transfers

February 25, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The company Mercury FX, engaged in international currency transfers, has announced plans to open ten new payment channels that will use the Ripple’s xRapid solution.

As the head of the company Alastair Constance Alastair told, Mercury FX will use xRapid to make transfers from the UK to Canada. Also, the solution may be used for transfers from the UK to the Middle East. Ten new payment channels will be open by the middle of this year.

“I think from a customer point of view, you almost don’t want to show them too much of the technology or explain too much of why it’s working as it is. I don’t understand how a car works, but if it parks for me that would be even better. And I think it’s the same kind of thing. But what they are seeing is payments arriving in one-hundredth of the time and they’re paying a lot less, if anything, for it. And I think that’s the key,” said Constance.

According to the head of Mercury FX, many companies have begun to realize the benefits of using the xRapid solution instead of traditional bank payments.

Earlier, representatives of the Spanish bank Santander said that the cryptocurrency startup Ripple does not have strong rivals who could make him at least some competition in the field of international transfers. Later, Ripple was highly supported by the largest cryptocurrency exchange Binance. And so on… What do you think?

Author: Marko Vidrih