The Currency Analytics
By Dan Saada
Ripple (XRP) Cross Border Transactions Sending Home Money
During the time of CoViD-19, transactions are quickly moving to digital from traditional cash-based regions. This will evolve to become a trend even after the pandemic ends.
Ripple Tweeted: “Families shouldn’t have to wait to receive payments from overseas. By making new connections and expanding remittance capabilities, #RippleNet customers…
Navin Gupta, Managing Director of South Asia and MENA at Ripple opined that a lot of people are getting educated about using digital payment methods.
When questioned about why Ripple has taken a particular interest in India and the MENA region to develop their business in, he replied, “We will go wherever the customers go–it’s…
Ripple seems to be exerting its focus on the "Receiver market." The concern is that many of the receivers are unbanked or underbanked.
They are working to ensure that they have customers in every single receive market from across the world.
Sydney Ifergan, the Crypto Expert, tweeted: "Ripple XRP making remittances easy is good, but the challenge is to convince people to adapt to the new process of sending…
Camille Jeong, Coinone Transfer’s Business Development Manager, expressed, "#RippleNet connected us to financial institutions in Thailand, Philippines, and Sri Lanka so we could…
When banks have a monopoly in the process of remittances, the migrants will not have any other option than to make use of the already existing slow and expensive process.
Jeong recalled how global transfers were difficult for foreign workers. Particularly, for those who were working in rural areas, it used to take even seven days for the…
Saving time, paying lower costs, and reducing the risks in cross border transactions help serve customers better in remittance processes.