Payment processor Cuallix is offering Ripple (XRP) cross-border payments between the US and Mexico.
Interestingly, the cross-border payments process involves two cryptocurrency exchanges Bittrex, Bitso, and Ripple’s
Moreover, the process of making a payment between parties in the US and Mexico involves four steps.
First, when Bittrex initiates a payment between the US and Mexico in
Cuallix Offers Ripple (XRP) Cross-Border payments in Mexico
“Given that it is more faster and more efficient and more transparent, that can help us give that to our final client,” Cuallix Chief Financial Officer (CFO) Nicolas Palacios says of
Cuallix supposedly went live with Ripple (XRP) payments in October, the Cryptonews Service reports. Other users of
Interestingly, Cuallix offers a MasterCard debit card and other financial products including a Cuallix revolving credit guaranteed loan. Besides
Ripple building Worldwide Cryptocurrency Cross Border Payments Network
Cuallix and Mercury FX are among the latest partners in Ripple’s worldwide cross border payments network.
Several companies are taking part in the project known as RippleNet. In detail, RippleNet uses sidechains to send Ripple (XRP) payments between nations.
Plus, BeeTech and
How Ripple (XRP) Cross-Border Payments could profit from Brexit
Importantly, MoneyTap offers the ability to send funds between Japan and Thailand using Ripple (XRP). Notably, MoneyTap can send funds from Japan to ATMs in Thailand.
Impressively, a major publicly traded bank; Banco Santander (NYSE: SAN) is offering Ripple (XRP) cross-border payments in the United Kingdom. Santander’s One Pay FX app reportedly uses Ripple’s
Notably, One Pay FX is in a perfect position to cash in on Brexit, on 29 March 2019. In fact, Brexit could increase the demand for Ripple cross-border payments by severing the British banking system from the Eurozone.
Hence, British residents will need a cheaper and faster alternative to traditional money orders which can take two to three days to complete and cost up to $50 apiece. However, a temporary customs union with the UK could preserve frictionless banking between Britain and the Eurozone.
Ripple and companies like Cuallix are in a perfect position to cash in on an increasingly complex international trade situation with cryptocurrency-based cross-border payments. Hence, other infrastructure coins like Bancor (BNT), EOS (EOS), and Ethereum (ETH) will need to develop cross-border payments to become viable payment solutions.