RATE Group | Is Regulatory Uncertainty Preventing Banks from Using xRapid?
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Is Regulatory Uncertainty Preventing Banks from Using xRapid?

18 Dec Is Regulatory Uncertainty Preventing Banks from Using xRapid?

Posted at 15:16h in Ethereum News by

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Earlier today, a tweet by @DiepSanh brought up a conversation as to why banking institutions are not using xRapid. The tweet explained that banking institutions were not using xRapid due to regulatory uncertainty when it comes to digital assets and that only payment service providers were using the blockchain based solution for cross-border payments. The tweet also included a 1.38 minute undated video clip of Ripple’s Global Head of Banking, Marjan Delatinne, stating the same.

The tweet by @DiepSanh (Stephen Diep) can be found below.

In the video, Ms. Delatinne states the following:

This product [xRapid] is live now…just to make it clear…no banking institution is using that because as you probably heard about it, the regulatory…

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