The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Rumors of Ripple and Coinbase Partnership Spreading After Conference in Paris

by Daily Hodl Staff
September 17, 2019
in Ripple and XRP

A recent discussion at the OECD Global Blockchain Policy Forum in Paris is triggering rumors of a partnership between Ripple and Coinbase.

The head of Ripple’s global institutional markets team, Breanne Madigan, joined a panel on regulation in digital finance.

When talking about Ripple’s XRP-powered cross-border payment solution xRapid, Madigan used Coinbase as an example of a company that could use xRapid to move value around the world.

“We signed a deal with MoneyGram to help facilitate their cross-border flows. So there’s an example of, say, someone who lives in the US and wants to send Mexican pesos back to Mexico. So the way it works is, through our partnership, we send MoneyGram’s flow to one of what we call our originating exchanges – say it’s Coinbase in the US, as an example. The US dollars get swapped to XRP there and then they get sent across the border to a local exchange in Mexico, call it Bitso, in this example. Bitso then takes the XRP and swaps it into local Mexican pesos.

[the_ad id=”36860″]

And that consumer, or MoneyGram’s end consumer client, will receive Mexican pesos directly. And so we’ve delivered significant cost savings to MoneyGram in that example. Significant efficiency and so that’s a real value proposition to a company that’s affecting the end consumers because their fees will be lowered as a result.”

The comments quickly spread on Twitter, with members of the XRP community wondering if Coinbase is really on board.

https://twitter.com/XrpCenter/status/1173131936082137089

Madigan also talked about how Ripple is working to get enough liquidity to launch xRapid in new corridors using additional currencies aside from the US dollar and Mexican peso.

“And so as we scale xRapid, the on-demand liquidity product, what we now need to look at is before we launched MoneyGram we were looking at the current liquidy of XRP versus USD and XRP versus Mexican peso trading on Bitso at that point. And call it half a million dollars a day. Well, if we want to start sending $10 [million] and then getting to $50 [million] and then getting to $100 [million], how are we scaling that liquidity?

[the_ad id=”36860″]

And so we’ve been strategically partnering with a number of market makers around how we establish contracts and incentives for people to want to engage so that as we send more volume through these channels there is depth of liquidity in the crosses that we need to support that flow. But the way that we’ve structured these contracts is such that we leave an opportunity for new liquidity participants to have incentive to enter.

And we’re starting to see already, even in the last month since we launched MoneyGram into that corridor, a number of new liquidity participants are realizing there is a real arbitrage opportunity. We don’t have to then pay to incentivize people to make markets because there’s significant volume going to that corridor. And so, this is a first step in developing real deep liquidity markets in areas that never had it before. And we’re transforming the way money is sent across borders as a result.”

As for regulatory issues, Madigan says Ripple is especially concerned about the lack of clarity and the slow pace of cryptocurrency regulation in the US.

[the_ad id=”36860″]

“Certainly there are hurdles and we’re in the early stages. But that’s one way that we’re practically dealing with the challenges at Ripple. On the regulatory side, I think the importance is really establishing really clear frameworks that are principles-based rather than rules-based because we are at such a nascent stage of this industry’s development that we need to allow for flexibility and allow companies to be nimble but still adhering.

I think there’s concerns in the US with some of the approaches to date that we’re sort of missing out. There’s been other jurisdictions – Switzerland, Singapore and others – that have established more clear frameworks. And we are at a risk in the US, which is where our company is headquartered, of flight of talent if we can’t get to some consensus.”

You can check out the full panel here.

[the_ad id=”66406″]

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Unizen and DWF Labs Strategic Partnership To Revolutionize Web 3.0 User Experience
    March 31, 2023
  • Core’s Revolutionary Satoshi Plus Consensus Marries Decentralization, Security and Scalability
    March 30, 2023
  • Lost Worlds Launches Version 2.0 of GeoNFTs in Web 3.0 Platform
    March 30, 2023
  • Script Network, SingularityNET and Stacks Bring Practical Solutions to Real-World Issues
    March 29, 2023
  • OKX To Open Office in Australia
    March 29, 2023
  • Metacade Raises Over $14.7 Million As Presale Sets To Close in 72 Hours
    March 29, 2023
  • Binance Expands AI-Powered NFT Generator Bicasso
    March 28, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,885.47
$27,885.47
1.34%
Ethereum
$1,774.26
$1,774.26
1.48%
Cardano
$0.372538
$0.372538
3.86%
XRP
$0.536301
$0.536301
2.74%
Dogecoin
$0.07421
$0.07421
2.09%

Spotlight

  • Coin Bureau Names Aave, THORChain and Three Additional Crypto Assets on Its Altcoin Watch List
    March 29, 2023
  • Do Kwon To Be Held in Montenegro for 30 Days As Authorities Investigate Forged Passports: Report
    March 29, 2023
  • Ethereum (ETH) Being Held in Self Custody at Highest Level in History, According to Analytics Firm Santiment
    March 29, 2023
  • Top Trader Says Shiba Inu (SHIB), Dogecoin (DOGE) and One Additional Memecoin Will Run Hard on Next Bitcoin Bounce
    March 29, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl