Ripple CTO David Schwartz recently clarified how crypto exchange Bitso facilitates billions in XRP remittance without operating in the U.S. In a recent conversation, David Schwartz, the CTO of Ripple, clarified how the Mexican-based exchange Bitso facilitates the transfer of billions in XRP remittances between Mexico and the United States without a physical presence in […] The post Ripple CTO Explains How Bitso Sends Billions in XRP Without Operating in US first appeared on The Crypto Basic.

Ripple CTO Explains How Bitso Sends Billions in XRP Without Operating in US

Ripple CTO David Schwartz recently clarified how crypto exchange Bitso facilitates billions in XRP remittance without operating in the U.S.

In a recent conversation, David Schwartz, the CTO of Ripple, clarified how the Mexican-based exchange Bitso facilitates the transfer of billions in XRP remittances between Mexico and the United States without a physical presence in the U.S.

Bitso Facilitates $3B+ in Remittances

Tiffany Hayden, a well-known XRP community influencer and former Community Manager at Edge, raised the question, sparking an insightful discussion with David Schwartz and other community members.

Hayden’s curiosity was piqued by a  previous report  from The Crypto Basic highlighting Bitso’s remarkable success in enabling over $3 billion in remittances between Mexico and the U.S. It bears mentioning that not all this volume involved using XRP or Ripple’s product.

Hayden questioned how individuals in the U.S. could send such significant amounts through Bitso, given that the exchange doesn’t operate within the U.S. jurisdiction.

Another community member, Scam Detective, joined the conversation, seeking clarification. Schwartz swiftly stepped in to offer an explanation, shedding light on the mechanics behind Bitso’s operations.

Ripple CTO’s Response

Schwartz clarified that  Bitso’s

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