From the Goldman Sachs Tech Conference 2018:
“40% of all wire transfers in Australia result in a customer service phone call. And they can’t tell the customer what happened to their wire.
Xrapid puts a product wrapper on foreign exchange. To do foreign exchange, you convert from dollars to XRB and then from XRB to Philippine Pisos, for example.
Bitcoin costs $13-20 per transaction and takes 3-4 hours. We cost a fraction of a cent and take 3 seconds. XRB is 1000x faster and 1000x cheaper than BTC for payments. BTC solves a different problem. It does not solve the payments problem. BTC is digital gold, a store of value.
SWIFT takes 48 hours for settlement time. Even if XRB has high volatility, you are exposed to it for only 10 seconds, so XRB exposes you to less volatility per transaction than a fiat-denominated currency. SWIFT costs $10 or more, and has a 6% error rate. [!]”
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