XRP Effect: Mercury Fx Makes Its Largest Payment Across RippleNet Via XRP
— Mercury-fx Ltd (@mercury_fx_ltd) January 17, 2019
“We've made our largest payments across RippleNet using #XRP – 86,633.00 pesos (£3,521.67) from the U.K. to Mexico in seconds.”
Founded in 2017, Mercury FX is a currency specialist company that offers faster, cheaper, and secure currency services for international transactions. What’s interesting is the fact that it helped save money in the process as the company further states,
“UK-based Mustard Foods saved £79.17 and 31 hours on the transaction.”
James Durrant, the Commercial Director at Mustard Foods Limited shared how this is a big thing for them,
“As a food production company supplying 500+ restaurants in the UK & Europe, we pay suppliers around the world to get quality ingredients for our customers. Faster, cheaper payments allow us to fulfil orders quickly and grow our business.”
Ripple shared the real life example of XRP and RippleNet usage and how they are actually helping the businesses move transactions at a faster speed and less cost.
XRP community is really excited to see the development XRP and Ripple’s other products are making and a real life example at that got them bouncing. One XRP enthusiast shared his excitement with,
“Happy to be part of this innovation! Go Ripple! Go mercury_fx_ltd! Show the world how this helps everyone with cross-border payments!”
While another one had this to say,
“Being a small business owner….this is a paradigm shift in finance… Tell any business owner they can have 2% extra margin for free and they will take it 7days a week and twice on Sundays… Ripples turning into tsunami's.”
Last year, around August, it has been revealed that Mercury Fx will be running payment trials in Mexico and China by leveraging Ripple’s technology as it reads on its website,
“Mercury will be testing payments into China and Mexico with Ripple and we're most excited about the potential to bring currently unconnected markets into the fast lane of global finance.”
“Rather than see cryptos and blockchain technology as a threat,” Mercury Fx has been working on embracing it as the firm has a strong belief in this nascent technology that will “eventually replace the SWIFT network alongside other frankly clunky payments networks. Cryptos will be used as a conduit to replace fiat eventually.”
Just recently, a member of the XRP community shared on Twitter that Deutsche bank HSBC and Xoom are now working with Ripple. Interestingly, Xoom payment service is owned by PayPal and Ripple will be indirectly working with its competitor.
— xrpdarren (@Fame21Moore) January 16, 2019
Meanwhile, the 2nd largest cryptocurrency is trading at $0.3276 with 24-hours loss of about 0.86 percent as per Coinmarketcap.