You set up a foreign currency transfer. The money leaves your account. It disappears for days. And then it turns up (significantly reduced) in the recipient’s account.
That’s just how it works right?
But have you ever wondered what happens to your money in that in-between period? Where it goes? Why so much of the money disappears?
Most banks pass your money around a complex and opaque global relationship network to get it from point A to point B - with every hand that touches the money taking a few dollars.
Of course, it’s all lumped together and listed as one fee on your statement.
It's an easy fix, right? Take the middlemen out of the equation and send your money directly. We've done just that and we use secure Ripple distributed ledger technology to enable almost real time transactions.
Giving us unrivalled speed with the same level of security and its much more cost effective. But we don't stop there –