Ripple May Expand International Payments Network to Brazil
- The international crypto and payments giant could be making moves toward South America.
Cryptocurrency firm Ripple could be expanding its international Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term corridor network to Brazil, according to an interview with Ripple Head of Global Banking Marjan Delatinne published on the ‘Future of Finance’ YouTube channel on June 8th. CoinTelegraph reported that Ripple further establishing itself in Brazil could lead to its use in other Latin American nations."
During a discussion on Ripple’s On-Demand Liquidity (ODL) services, Delatinne said the firm was planning to extend its services to “exotic corridors”; Delatinne then named Philippines and Brazil specifically as markets “where you don’t necessarily want to keep liquidity and you want to really move funds when you need it.”
Ripple is already in active usage by three Brazilian firms: Bradesco, Banco Redimento, and Santander, which use RippleNet (Ripple’s Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term-based financial services network) to send and receive payments. However, Delatinne believes that ODL could be utilized in tandem with the XRP token as a “bridge” between fiat currencies in cross-border transactions.
And the ODL service seems to be rising in popular--CoinTelegraph previously reported that transaction volume on Ripple’s ODL payments network “tripled” throughout Q1 2020; at the same time, the USD value transacted using ODL increased by nearly 300%.
“Once regulators understand you’re not circumventing regulatory frameworks, they get very comfortable very quickly.”
Ripple has also reportedly been making other movements toward establishing itself in Brazil. According to an announcement posted by the central bank of Brazil on its own website, Roberto Campos Neto--the president of the central bank--had a video conference with Ripple CEO Brad Garlinghouse and three other representatives of the crypto firm.
Brad Garlinghouse has previously explained that Ripple’s emphasis on compliance has been a key part of Ripple’s growth: in a February interview with CNN, Garlinghouse said that “once regulators understand you’re not circumventing regulatory frameworks, they get very comfortable very quickly.”
INTERVIEW PART I 👇🏼
— Julia Chatterley (@jchatterleyCNN) February 17, 2020
"Once regulators understand you're not circumventing regulatory frameworks they get very comfortable very quickly," @Ripple CEO @bgarlinghouse explains why he's on a mission to educate regulators around the world. pic.twitter.com/2PMVvj3PZU
“A lot of what I am doing […] is meeting with regulators, meeting with very senior people at banks and explaining to them how crypto can be used–specifically XRP–can be used to solve a real problem, not to circumvent regulation,” he said.
“[…] Once people understand that, they very quickly become disarmed–[‘crypto’] is no longer a bad word.”
Cryptocurrency firm Ripple could be expanding its international Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term corridor network to Brazil, according to an interview with Ripple Head of Global Banking Marjan Delatinne published on the ‘Future of Finance’ YouTube channel on June 8th. CoinTelegraph reported that Ripple further establishing itself in Brazil could lead to its use in other Latin American nations."
During a discussion on Ripple’s On-Demand Liquidity (ODL) services, Delatinne said the firm was planning to extend its services to “exotic corridors”; Delatinne then named Philippines and Brazil specifically as markets “where you don’t necessarily want to keep liquidity and you want to really move funds when you need it.”
Ripple is already in active usage by three Brazilian firms: Bradesco, Banco Redimento, and Santander, which use RippleNet (Ripple’s Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term-based financial services network) to send and receive payments. However, Delatinne believes that ODL could be utilized in tandem with the XRP token as a “bridge” between fiat currencies in cross-border transactions.
And the ODL service seems to be rising in popular--CoinTelegraph previously reported that transaction volume on Ripple’s ODL payments network “tripled” throughout Q1 2020; at the same time, the USD value transacted using ODL increased by nearly 300%.
“Once regulators understand you’re not circumventing regulatory frameworks, they get very comfortable very quickly.”
Ripple has also reportedly been making other movements toward establishing itself in Brazil. According to an announcement posted by the central bank of Brazil on its own website, Roberto Campos Neto--the president of the central bank--had a video conference with Ripple CEO Brad Garlinghouse and three other representatives of the crypto firm.
Brad Garlinghouse has previously explained that Ripple’s emphasis on compliance has been a key part of Ripple’s growth: in a February interview with CNN, Garlinghouse said that “once regulators understand you’re not circumventing regulatory frameworks, they get very comfortable very quickly.”
INTERVIEW PART I 👇🏼
— Julia Chatterley (@jchatterleyCNN) February 17, 2020
"Once regulators understand you're not circumventing regulatory frameworks they get very comfortable very quickly," @Ripple CEO @bgarlinghouse explains why he's on a mission to educate regulators around the world. pic.twitter.com/2PMVvj3PZU
“A lot of what I am doing […] is meeting with regulators, meeting with very senior people at banks and explaining to them how crypto can be used–specifically XRP–can be used to solve a real problem, not to circumvent regulation,” he said.
“[…] Once people understand that, they very quickly become disarmed–[‘crypto’] is no longer a bad word.”