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Bitcoin Beats XRP At Global Remittances, Says New Report
Bitcoin (BTC) will always be a better solution for cross-border payments than XRP, according to the head of a Hong Kong-based remittance company. George Harrap, CEO of Bitspark, says that bitcoin has a clear edge because it is already globally accepted and has sufficient liquidity for established remittance companies.
On the other hand, Harrap notes, the remittance industry has not adopted XRP because it lacks liquidity with local fiat currencies, making it either prohibitively expensive or simply impossible to use as a cross-border solution.
The report, titled “The Compendium of Cryptocurrency Remittances,” examines several cryptocurrencies as well as their respective viability for cross-border payments. Bitcoin and Ethereum are both considered to have “medium” viability. Stellar- thanks to a built-in decentralized exchange and the ability to establish trusted stablecoins- has a viability of “high.”