After collaborating with the company behind the second largest XRP coin [XRP] Ripple as one of the +200 customers, Mercury FX announced via their official twitter account that made the biggest payment on RippleNet with a successful conclusion.
– Mercury-fx Ltd (@mercury_fx_ltd) 17 January 2019
Using XRP, the company transferred £ 3,521.67 or $ 4,552.41 while citing that UK-based Mustard Foods managed to save £ 79.17 and 31 hours on the transaction. Mustard Foods may be one of the best examples of the impact of the use of RippleNet as it has opened the door for cheaper expenses, faster orders and faster payments.
As explained by John P. Njui on EWN a few days ago, Ripple announced through its website that 13 new financial institutions have joined RippleNet thus pushing the total number of global customers to over 200. RippleNet currently operates in 40 countries on 6 continents.
Of the 13 financial institutions mentioned above, 5 are confirmed that they use XRP to find immediate liquidity for their cross-border payments. They are JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank.
By the end of this year , the main banks will use xRapid as a liquidity tool. By the end of next year I certainly hope that we will see … in the order of magnitude … of dozens. But we must also continue to grow this ecosystem … to increase liquidity. – Brad Garlinghouse
The success behind the Ripple team could be in line with their marketing strategy and future plans to make the financial industry a better place to be. While not shifting traditional banking systems but helping them make payments cheaper and faster, he is finding his way to go reflector in the crypt-verse.