https://www.americanbanker.com/news/inside-ripples-plan-to-make-money-move-as-fast-as-informationexcellent read, great info..and alot about XRP too
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Teleporting gold
So why should banks care? Because Ripple plans to use XRP to solve their liquidity problems.
As it stands, banks around the world must hold billions of dollars in reserve, waiting to use them for payments. When one bank needs to send money across borders, it uses the dead cash it is holding at the foreign institution to which it is sending funds—either the final recipient or the intermediary correspondent bank. The whole process involves counterparty risk and the expensive vetting procedures that go along with it. This dormant cash is all the more wasteful because, in a world of Basel III, it counts as yet another balance-sheet asset against which a bank has to hold cash to cover its liabilities.
Ripple's big idea is to use
XRP, once its market cap gets high enough and it is being traded heavily enough—to provide banks with liquidity on demand. During a transaction, a fiat currency like the U.S. dollar would be converted by market makers into XRP and almost instantly swapped back into another fiat currency, like British pounds, on the other side.
So how much we talking here......$100BILL+ XRP OR $TRILL+ XRP
lols
