Ripple update: International Remittances from Canada
Just some thoughts and information on international remittances out of Canada.
Given the fact that Toronto is the 4th most populated city in North America (yes, bigger than Chicago and Houston) and that it is often given the title of most diverse and multi-cultured city in the world (over 51% of residents come from a different country) – if some of Canada’s big banks and remittance companies are presently using xCurrent for international remittances, correct me if I’m wrong but there could be the potential for Canada to generate some serious xRapid volume in the near future.
According to Pew Research Center, Canada sends out 24 billion in remittances each year. The US has a population 9X bigger than Canada’s – so on a per-capita basis, Canada’s 24 billion is significantly more than the 138 billion in remittances coming out of the US.
Pew Research has a very cool website which shows remittance volumes into and out of most major countries – see [http://www.pewglobal.org/interactives/remittance-map/](http://www.pewglobal.org/interactives/remittance-map/)
If I had a stake in one of the larger Canadian exchanges that has a direct XRP/CAD pairing (Coinsquare, NDAX, Uphold), I would be focusing on developing partnerships with the large Canadian banks (RBC, BMO, CIBC, TD) and knocking down the doors of Ripple HQ offering to do whatever it takes to become the preferred Canadian corridor for xRapid.
HODL strong my friends
[https://en.wikipedia.org/wiki/List_of_North_American_cities_by_population](https://en.wikipedia.org/wiki/List_of_North_American_cities_by_population)
[https://www.blogto.com/city/2016/05/toronto_named_most_diverse_city_in_the_world/](https://www.blogto.com/city/2016/05/toronto_named_most_diverse_city_in_the_world/)
[http://www.worldometers.info/world-population/canada-population/](http://www.worldometers.info/world-population/canada-population/)
[http://www.worldometers.info/world-population/us-population/](http://www.worldometers.info/world-population/us-population/)
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About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
Author: ripple_homeboy
Score: 23
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