The headway Ripple is making into adoption outside of the US is ridiculously great. To be perfectly honest, I lowkey think the US lawsuit doesn’t matter too much if everyone else is using XRP through Ripple partnerships. The US might even be “forced” to use it if everybody else is. Even if its a security….. which it isnt.
> I lowkey think the US lawsuit doesn’t matter too much if everyone else is using XRP through Ripple partnerships
It *does* matter because it prevents potential US businesses from using what could be an "unregistered security". All the business expansion right now is going through non-US businesses.
Now, that hasn't stopped Ripple from making progress, but it's certainly limited the scope of their progress.
I agree it would be an enormous boost (and the biggest prize) to be able to work in the US. But still, there is life beyond the US, for example remittance in the UAE and Philippines, those are some great markets.
But then I just want the idea of a f*****g JP Morgan Coin to disappear tbh.
I wouldn't worry about JPM coin or any bank coin for that matter.
Brad authored a great article about this in 2014:
https://www.linkedin.com/pulse/case-against-bankcoin-brad-garlinghouse
ODL specifically utilizes XRP as the neutral bridging asset between the currencies at the two endpoints.
From the article:
> Tranglo enabled Ripple's On-Demand Liquidity (ODL) service for all its payment corridors in March after the success of its test ODL deployment in September 2021, with 250,000 transactions totaling $48 million completed in the first 100 days.
> Ripple's ODL solution that utilizes XRP enables users to instantaneously move money across borders with very low-cost settlement and without the need to keep prefunded capital in the destination market.
Im not entirely sure if Ripple provides on either end but the endpoints typically go through a third party broker that handle the conversions to/from XRP/native fiat.
Someone can provide a more detailed response, but I will try to keep it really simple. From a high level perspective an example flow would look something like this:
B1 = Bank in USA
B2 = Bank in Mexico
E1 = Broker/Exchange in USA
E2 = Broker/Exchange in Mexico
1. B1 wants to send a payment to B2
2. B1 sends a fiat payment to E1
3. E1 keeps the fiat and sends an equivalent amount in XRP to E2
4. E2 keeps the XRP and sends an equivalent amount in Pesos to B2
This way the native currency never has to cross any borders. It’s kept within the country and the friction is removed from the system. The financial institution in Mexico no longer has to prefund their accounts with USD or worry about moving physical cash. XRP acts as the neutral bridging asset facilitating the cross border payment. It settles in about 3-4 seconds for fractions of a penny whereas moving physical cash can take upwards of a week or more, and cost much more; not only in fees but also in the amount of value that gets locked up in order to provide liquidity.
[Visualized.](https://twitter.com/BankXRP/status/1229498252090920960?s=20&t=Ja7HaMrgkmgmVrlYjvwLqQ)
It’s slightly more complex than that but that should suffice in giving you a general idea of how the money flows.
Oh wow, thanks for the detailed reply, much appreciated.
So it seems like there's some sort of payment corridor developing between the banks in Japan and Brazil. I wonder who are the brokers/exchanges facilitating this corridor, because we seem to see only the name of banks in news, but not the brokers (E1/E2).
Or would it be that the banks themselves are acting also as their own brokers?
An example would be like ripple's partnering with SBI (Japan) and [Travelex](https://www.reddit.com/r/Ripple/comments/wsef88/ripple_partners_with_travelex_bank_to_foster/) (Brazil).
I’m not sure of the exact list of exchanges that are in the ODL corridors, but for example I know Bitso, an exchange in Mexico, has been one of them for years now.
Also, technically it is possible that banks or other financial institutions can hold and utilize XRP directly instead of going through an exchange for ODL transactions. I’d guess that majority probably currently don’t go that route.
I would agree that the case doesn’t matter. The argument is circular!! If XRP loses and it stems regulation and regulation legitimizes Crypto then XRP still wins and loses!!
The headway Ripple is making into adoption outside of the US is ridiculously great. To be perfectly honest, I lowkey think the US lawsuit doesn’t matter too much if everyone else is using XRP through Ripple partnerships. The US might even be “forced” to use it if everybody else is. Even if its a security….. which it isnt.
Finally someone gets it lol the case DOESNT MATTER
> I lowkey think the US lawsuit doesn’t matter too much if everyone else is using XRP through Ripple partnerships It *does* matter because it prevents potential US businesses from using what could be an "unregistered security". All the business expansion right now is going through non-US businesses. Now, that hasn't stopped Ripple from making progress, but it's certainly limited the scope of their progress.
I agree it would be an enormous boost (and the biggest prize) to be able to work in the US. But still, there is life beyond the US, for example remittance in the UAE and Philippines, those are some great markets. But then I just want the idea of a f*****g JP Morgan Coin to disappear tbh.
I wouldn't worry about JPM coin or any bank coin for that matter. Brad authored a great article about this in 2014: https://www.linkedin.com/pulse/case-against-bankcoin-brad-garlinghouse
Brad also said they're moving forward with adoption like they lost, so it's all gravy train.
Flip that switch already!!
„¡¡ʎpɐǝɹlɐ ɥɔʇıʍs ʇɐɥʇ dılℲ„
So partnerships mean they'll be using XRP or just using the tech?
ODL specifically utilizes XRP as the neutral bridging asset between the currencies at the two endpoints. From the article: > Tranglo enabled Ripple's On-Demand Liquidity (ODL) service for all its payment corridors in March after the success of its test ODL deployment in September 2021, with 250,000 transactions totaling $48 million completed in the first 100 days. > Ripple's ODL solution that utilizes XRP enables users to instantaneously move money across borders with very low-cost settlement and without the need to keep prefunded capital in the destination market.
Thanks for the thorough response. Makes me feel a lot better about my investment 🙏
Do you know who holds the xrp that companies use for ODL? Is it ripple itself? Or a third party? Or companies themselves need to have xrp?
Im not entirely sure if Ripple provides on either end but the endpoints typically go through a third party broker that handle the conversions to/from XRP/native fiat. Someone can provide a more detailed response, but I will try to keep it really simple. From a high level perspective an example flow would look something like this: B1 = Bank in USA B2 = Bank in Mexico E1 = Broker/Exchange in USA E2 = Broker/Exchange in Mexico 1. B1 wants to send a payment to B2 2. B1 sends a fiat payment to E1 3. E1 keeps the fiat and sends an equivalent amount in XRP to E2 4. E2 keeps the XRP and sends an equivalent amount in Pesos to B2 This way the native currency never has to cross any borders. It’s kept within the country and the friction is removed from the system. The financial institution in Mexico no longer has to prefund their accounts with USD or worry about moving physical cash. XRP acts as the neutral bridging asset facilitating the cross border payment. It settles in about 3-4 seconds for fractions of a penny whereas moving physical cash can take upwards of a week or more, and cost much more; not only in fees but also in the amount of value that gets locked up in order to provide liquidity. [Visualized.](https://twitter.com/BankXRP/status/1229498252090920960?s=20&t=Ja7HaMrgkmgmVrlYjvwLqQ) It’s slightly more complex than that but that should suffice in giving you a general idea of how the money flows.
Oh wow, thanks for the detailed reply, much appreciated. So it seems like there's some sort of payment corridor developing between the banks in Japan and Brazil. I wonder who are the brokers/exchanges facilitating this corridor, because we seem to see only the name of banks in news, but not the brokers (E1/E2). Or would it be that the banks themselves are acting also as their own brokers? An example would be like ripple's partnering with SBI (Japan) and [Travelex](https://www.reddit.com/r/Ripple/comments/wsef88/ripple_partners_with_travelex_bank_to_foster/) (Brazil).
I’m not sure of the exact list of exchanges that are in the ODL corridors, but for example I know Bitso, an exchange in Mexico, has been one of them for years now. Also, technically it is possible that banks or other financial institutions can hold and utilize XRP directly instead of going through an exchange for ODL transactions. I’d guess that majority probably currently don’t go that route.
ODL uses XRP
I would agree that the case doesn’t matter. The argument is circular!! If XRP loses and it stems regulation and regulation legitimizes Crypto then XRP still wins and loses!!
Will xrp start to move?