Mercury FX accesses the inaccessible in cross-border payments with Ripple.
Goal: Mercury FX wanted to expand their client base by entering remittances market and enhance profit margins by lowering costs and speeding up settlement times.
Solution: Ripple gives Mercury FX an alternative to pre-funding with access to On-Demand Liquidity on RippleNet, opening up previously inaccessible high-value corridors like Mexico and the Philippines.
International payments specialist with offices in London, Hong Kong and South Africa
“When we discovered that Ripple could help us settle payments 100 times faster and at a fraction of the cost, it was a game-changing moment. It has allowed us to open up previously inaccessible markets. We look at the world in a totally different way thanks to Ripple.”
Alastair Constance, CEO at Mercury FX
Faster, Cheaper Access to New Markets
Through RippleNet, Mercury FX can offer payments to Mexico using On-Demand Liquidity, with the digital asset XRP as the bridge between the Mexican peso and the U.S. dollar. In the past, transfers in Mexican pesos took up to three days and cost up to $50; today, they happen nearly instantly for approximately $2. Mexico is now a viable corridor for Mercury FX because of Ripple’s blockchain technology. The new settlement times enabled by RippleNet offer major benefits to Mercury FX’s customers, like a food importing business that now receives orders three days earlier than before. The company’s clients can conduct business faster, sending and receiving payments in more markets than ever before at lower costs.