Is it time to upgrade traditional cross-border payments? How blockchain is transforming financial processes, according to GTreasury

Question

【Crypto World】The pain point of traditional cross-border payments can be summed up in one word—slow. The process is opaque, with many intermediaries and high fees. How many years have these issues troubled the financial system?

The head of Ripple in South Africa recently pointed out that this system indeed needs to be changed. They conducted experiments using GTreasury (a company that was acquired), leveraging XRP ledger technology to reduce the settlement cycle from several days to just a few seconds, while also cutting costs by 60% to 90%. These numbers sound quite exaggerated, but considering the fee structure between banks, it doesn’t seem like an overstatement.

Even more interesting is that Ripple is expanding its business in South Africa while also promoting the RLUSD stablecoin. Their idea is very clear—make stablecoins not just circulate within the Ripple ecosystem, but become tools truly recognized by financial institutions. This way, small countries and regions can access mature cross-border payment solutions without relying entirely on the old SWIFT system.

DataBartender · Accepted Answer

It arrives in a few seconds. If this really becomes widespread, bank intermediaries will have to drink northwest wind.

TokenSleuth · Answer

60% to 90%？ Such outrageous numbers, I really find it hard to believe.

XRP can work, but will the banks really use it? That's the key.

The South Africa pilot sounds good, but there's still a long way to go before it goes global.

Stablecoins are on the right track, but it all depends on whether they can convince those old-fashioned bankers.

It's Ripple and RLUSD again, feels like this story has been told for years... Is there any real implementation?

Fast speed and low cost sound great, but who will guarantee security?

ThreeHornBlasts · Answer

From days to seconds, this wave of Ripple is really here to revolutionize

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Cost reduced by 90%? Banks should be crying haha

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Can stablecoins truly be recognized by financial institutions, or does it depend on regulatory attitudes

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South Africa's pilot choice was good, small countries need this the most

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Is the XRP ledger reliable? Or is it just another hype concept

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No one has touched the fee process for so many years, and now someone is finally taking action

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If RLUSD can be widely promoted, it will truly change the game

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Sounds great, but the key is whether banks are willing to use it

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Settlement in a few seconds, if achieved, will cause a major shake-up in the financial system

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The problem of multiple intermediate steps, blockchain is naturally its nemesis

DisillusiionOracle · Answer

These guys at the bank should be panicking, really.

ZenZKPlayer · Answer

Done in a few seconds? The banks should be crying haha