Ripple is breaking all sorts of traditional financial trends. In recent news, Mercury FX which is a UK based company has made their most substantial payment from the UK to Mexico using XRP. The amount was valued at £3,521.67 which in US dollar terms is equal to around $4552.
1/2 UK-based Mustard Foods saved £79.17 and 31 hours on the transaction.
— Mercury-fx Ltd (@mercury_fx_ltd) January 17, 2019
The transfer helped a UK based company called Mustard Foods saves £79.17 and 31 hours on the transaction. Hence proving that Ripple helps companies reduce losses and gain in profits, with a saving of time which can lead to improved businesses and relationships.
Mustard Foods, is a food production company that supplies food over 500 restaurants in the UK and Europe. Hence such transactions through Ripple make their business more competitive in today’s world which as a result will help them grow monetarily and support customer’s gain more confidence in the company. The transaction was made for ingredients from Mexico, thus assisting in getting the ingredients faster and gaining a competitive edge over other ingredient suppliers.
Mercury FX as per their website is a global currency specialist which offers low transactions fees, for cross border transactions. Hence it is safe to say, it is not just talking the talk, but walking the talk with Ripple’s technology.
You may think that the amount sent was low, however as confidence picks up amongst businesses to use Ripple you will notice higher amounts being sent daily.
XRP at the time of writing is still sitting comfortably in the second position, with a value in the green at $0.327270 and a market capitalization of $13,431,306,711.
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