“With RippleNet, we make payments in seconds,” Mercury FX partners with RippleNet.
In its way to improve the services and the market, Mercury FX partners with RippleNet. CEO Mercury FX Alastair Constance spoke about the partnership.
He said that the objective of the company was highly valued transactions. However, in order to grow they were planning to focus on international payments. Constance mentioned: “We discovered that Ripple could help us settle payments 100 times faster & at a fraction of the cost,” describing that moment as “game-changing.”
The company tested On-Demand Liquidity, utilizing XRP tokens as a connecting asset between the Mexican peso & the United States dollar through donating to an Mexican orphanage.
In the past, money transfers to Mexico were quite tough process. A common transfer from the United Kingdom to the Latin American country took around 3 days & cost around 50 USD.
Noting that Mexico has never been strong economic country for payment settlement, Constance mentioned: “With RippleNet, we made that payment in seconds & the price dropped from U.S. $50 to about U.S. $2.” He added: The trial with the orphanage was so successful, we were soon facilitating payments for a U.K. business that imports Mexican food.”
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