Banks transfer fiat via XRP on Ripple protocol

[cmbartley]

"Instead of transacting via local currency accounts at correspondent banks around the world, the banks convert funds to Ripple's own digital currency, known as XRP, then complete an exchange almost instantly."

http://app.ft.com/cms/s/541414c0-3834-11e6-a780-b48ed7b6126f.html

[Ramazi]

"Instead of transacting via local currency accounts at correspondent banks around the world, the banks convert funds to Ripple's own digital currency, known as XRP, then complete an exchange almost instantly."

http://app.ft.com/cms/s/541414c0-3834-11e6-a780-b48ed7b6126f.html

The link requires subscription to FT, not really useful.

[papillon13]

So? What's the big deal?

[God27]

So? What's the big deal?

Yea I agree with this.  Please evaluate for us your reason why we should like to hear about this story on ft?