Mercury-fx Ltd has announced it made its largest payment across Ripple Network using Ripple’s Digital asset XRP, remitting 86,633.00 pesos (£3,521.67) from the U.K. to Mexico in seconds.
While the transaction was done on behalf of a UK-based Mustard Foods, the firm saved £79.17 and 31 hours.
“We’ve made our largest payments across RippleNet using #XRP – 86,633.00 pesos (£3,521.67) from the U.K. to Mexico in seconds.”
“As a food production company supplying 500+ restaurants in the UK & Europe, we pay suppliers around the world to get quality ingredients for our customers. Faster, cheaper payments allow us to fulfill orders quickly and grow our business.” James Durrant, Commercial Director at Mustard Foods has said.
— Mercury-fx Ltd (@mercury_fx_ltd) January 17, 2019
Yesterday, Mercury-fx applauded Ripple’s outstanding performance especially the use of xRapid to achieve cross-border remittance without havoc.
While quoting their founder Mercury-fx says remitting funds with the use of XRP is so cheap and simple.
“Using #XRP to move your money faster and cheaper is a no-brainer, says our founder.”
With Mercury-fx’s decision to change the cross-border remittance space, the platform partnered with Ripple, and has since been enjoying the network’s topnotch tools to explore payments around China and Mexico using blockchain technology.
“Mercury will be testing payments into China and Mexico with Ripple and we’re most excited about the potential to bring currently unconnected markets into the fast lane of global finance. Allowing people access to the international markets will create new markets and allow those currently without access to begin to trade with the global financial community and monetize their goods and services.”
Different financial institutions are now using RippleNet to achieve seamless cross-border payment. Last month, Banco Santander received innovation award of the year for deploying Ripple’s xCurrrent to power its cross-border remittance app named One Pay FX.