Good Morning and Happy SWELL Day! Many have sent us DM’s asking for what we think will go down at SWELL and today is the day we give our predictions on SWELL 2019 and what we think everyone can expect. So lets jump right into it.
What do we know already? Well, we know that Ripple has stated time after time that they will not announce a partnership or a new deal when it has been signed. It is on the partner to make the announcement. We also know that the CEO from Mercury FX has stated that by September 20th 2019 that Mercury FX wants to be live in Japan, the same CEO has also stated that Ripple had massive Xrapid or ODL plan for mid-year to introduce a ton of new corridors to the ecosystem. This was stated by Asheesh Birla earlier this year and backed up by the CEO of Mercury FX. So where does that leave us? Simple – we can expect new corridors to be opened at SWELL, we can expect some news in regards to regulation from Ben Lawsky, we can also expect an expansion from Moneygram and news out of Japan and Singapore.
SWELL 2019 Predictions:
- New Corridors – there is zero doubt that we will have new corridors opening up. Ripple has repeatedly talked about SouthEast Asia and we believe this is where the majority of the new corridors will come from. Moneygram has locations in all the locations listed below and we believe their expansion will play a big role in this.
India (INR) **Wild Card**
We listed India as a wild card. We haven’t received a lot of news out of India directly from Ripple but we have received news from massive banks in India speaking on RippleNet like Kotak Mahindrank Bank and also TATA Consultancy services which connect to RippleNet via Quartz gateway. The big question is – is India ready? Does ODL have enough liquidity to onboard India? Time will tell. Please note that a key speaker SWELL this year is Dr. Raghuram Rajan, Former Reserve Bank of India Governor and Chief Economist for The International Monetary Fund.
The new corridors tie us into our next prediction. So we get new corridors opened now what? Well, who are going to be the customers coming from these new corridors? We believe we will see a bank from Singapore announced as not only holding XRP but using XRP to send money across Asia. We believe Japan will be involved in a massive way here. Japan and SBI are way overdue. We expected a boom last year out of Japan but news kinda dried up and made SBI seem like a flop. In our opinion that isn’t the case. SBI was ready but regulations were still up in the air and the liquidity was not ready. Many will say but Japan has been live – and we will tend to agree on that statement for the most part. Japan has been live with selling OTC XRP but have they been live with utilizing XRP in money transfers? I do not think so.
So there you have it. New Corridors, Banks holding and using XRP to make cross border money transfers plus big news coming out of Japan and Singapore. SWELL 2019 is just a couple of hours away before the party gets started.
Fell free to leave in the comment section your predictions and let’s wait for the news to roll.