Ripple unveiled a new ad called ‘Got it.’ This official commercial could eventually be displayed on TV according to what users discuss on Reddit.
The ad shows how it is possible to send cross-border payments in fiat currencies in just a few seconds using Ripple’s services.
Ripple Unveils New ‘Got It’ Ad
A few days ago, Ripple released a new official commercial that promotes cross-border payments using their services.
In this ad, it is possible to see how individuals located in different regions around the world can send and receive fiat currencies almost instantly.
In the first scene, it is possible to see what it seems a businesswoman that sends U.S. dollars (USD) to a company in Japan that received Japanese yen (JPY) in just a few seconds.
This shows that Ripple is able to help individuals and financial institutions alike to send payments in fiat currencies using their RippleNetwork.
Although the ad does not show whether the application used runs on top of the XRPLedger, Ripple has been working so as to offer crypto-related solutions for companies and individuals to send payments in fiat currencies and sourcing liquidity using the XRP cryptocurrency.
The official commercial not only shows how Ripple could be used by companies or businesses, but it can also be a good tool for workers that want to send funds to their home countries.
Ripple is Dealing With Cross Border Payments
According to Paul Arriyavat, Vice President, Disruptive Technology Office at Siam Commercial Bank (SCB), said that migrant workers in Southeast Asia send home over $68 billion in funds.
At the same time, demand for fast and affordable cross-border transfers is large and it continues to grow. Nevertheless, the current traditional solutions are not good enough for users or are not properly addressing the challenges the industry is facing. Thus, the demand remains unattended.
Thomas Kiong, Senior Managing Director of Group Treasury Sales and FX at CIMB, explained:
“Our country hosts of lot of migrants groups, and we¡ve always catered to this segment. Malaysia to Indonesia is a very big cash-to-cash corridor and we also have a lot of Filipino workers.”
This current situation is being transformed into an opportunity. In this ad, Ripple shows how easy and cheap can be to send many across borders and how it could dramatically change workers’ lives.
In the future, this industry is expected to keep growing and Ripple will certainly play a massive role in trying to deliver the best services in the market.