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Hello this is Matt on the moon Lambo Channel have you heard the rumor that's Been circulating throughout the xrp Community over the last few days it's That uh the United States fed now System Is using xrp and here's the headline on The screen from the Crypt basic fed now Reportedly processed xrp transaction Sent to US bank account and the FED now System in case you're not familiar it's A it's a payment system in the United States that offers uh Full-time 247365 payment and settlement Uh which is a huge upgrade from Historically what has been commonplace Within the financial system here Domestically in the good old United States where I live um and so there's Speculation leading up to the launch of This thing uh you know hey Ripple's been Talking to him xrp's going to get used For this thing and I have made multiple Videos in the past explaining why that Doesn't make any damn sense and I'll Briefly touch on that but I want to Share with you specifically why people Have been generating this particular Rumor and although it did start Circulating on April 1st it was not an April Fool's joke it it was not um and This article is actually from April 3rd Here but I wanted to take some time to Talk about this and explain why this is Absolute
Nonsense and we'll just go from there But before going further I do want to be Clear I do not have a financial Background of any kind I am not offering Financial advice and you definitely Should not buy or sell anything because Of anything I say or right I'm just an Enthusiast who enjoys making YouTube Videos about crypto related topics but Just as a hobby and just for fun all Right piece reads as follows Pseudonymous xrp Community member crypto Value Hunter recently suggested that fed Now processed an xrp fund sent to his Bank account from the uphold crypto Platform the xrp Community member Disclosed this in a post on X Crypt Value Hunter revealed that he withdrew Funds from his uphold account in xrp to His bank and the funds hit the target Account instantly furthermore he Expressed surprise at the entity that Settled the transaction based on the Information in the payment description Per the disclosure the xrp funds were Processed by fed now the US Federal Reserve instant payment system this Revelation has sparked significant Optimistic remarks from community Members considering the Swift transfer Settlement a prime characteristic of xrp Transactions and the alleged involvement Of fed now Ex-user Chris Gates confirmed to have
Experienced a similar instant settlement When he orchestrated similar Transactions and he said quote the Implications of this transaction are Enormous Global integration and adoption Are occurring much faster than the vast Majority of that people realize end Quote and so let's break this down What's actually happening here xrp is Getting used with uphold in the FED now System what what what stop the press That sounds amazing except for it's not Happening so here's what crypto value Hunter actually posted with the screen Grab on your screen for those of you That care to look he wrote just sent Money from uphold to my bank using xrp I Just pause right there already no you Didn't no offense to this guy um but you Didn't do that that literally didn't Happen and it's it's impressive so the Guys got close to 7,000 followers which Is impressive it's it's you know it's Not every person that ends up gaining That typ following but that type of Following normally wouldn't have a post That would get the number of views this Got which is part of the reason I wanted To highlight like this has been widely Circulated in our community and if You're not on X you probably didn't know That but this what what's on your screen Right now has been seen 280,000 times I've never had a video with 280,000
Individual views you know um that's That's that's that's a lot of people That's a lot of eyeballs on this thing So he says just sent money from uphold To my bank using RP just be clear no he Didn't and I will show you and I will Prove it to you what he did was he sold Um something he sold apparently xrp and Then he had money on uphold and then That money that was on uphold was Transferred to his bank account that's It and I will prove it like that's that Is what happened xrp wasn't used in the Process somehow to facilitate this which Is what people are thinking here and he Said um and nothing against this guy Either like he he may just legitimately Have some sort of misunderstanding about What took place there and that's fine in Which case happy to clear this up but There are lots of people believing Mistakenly that xrp has somehow used in The plumbing as a result of this it just Isn't he then says the transaction took Place almost immediately but to my Surprise look who settled the Transaction before if pictures are worth 1,000 words then you know what this Means and here you can see share the Screen grab facilit facilitating the Transaction the fedna system there you Go fed now deposit xrp fed now oh it did Happen except for no it didn't it Definitely didn't there should be no
Excitement around this Um that is that is not what's happening Here um but there's also this post and This kind of got it's kind of flam fan The Flames further this is one of the Reasons I want to talk about this Because this is this hasn't slowed down So I told you this this conversation Started at the beginning of the month April 1st it's still going so here's a Post from April 3D from Jack the Ripple He wrote Jack the rippler he said Boom that's a lot of O's in There and then uh did I do when when I Delivered that did I he's got four Exclamation points did I have four Exclamation points worth of excitement In that or should I try a little more I Can try a little more excited for you May have thrown in a few extra O's Too was that was that more exciting that I sound more excited to You I gave it my best folks so he wrote Boom and then he said fed now reportedly Processed xrp transaction sent to US Bank Account no that didn't happen fed now Did not process an xrp Transaction now that was reposted by Uphold The cryptocurrency Exchange I I Wish that they would have corrected that Because that's not what happened now I'm A big fan of uphold so I don't want to Be overly critical like they're
Fantastic I've been using them for Almost 6 years I think come this summer It'll be six years for me or somewhere There about anyway um they're great I Can I I used them recently um big fan of Uphold here uh they've been really good To the xrp community they're an exchange That did not deist xrp when every other Exchange under the damn Sun did when the SEC sued Ripple claiming xrp was a Security I'm a gigantic fan of uphold um So just a small critique here I really Wish they would have corrected what Jack The rippler said cuz it's literally not True but uphold reposted that and wrote The Following fact if you reside in the US and your bank works with fed now or RTP you can instantly withdraw your xrp To USD on uphold just look for the Lightning symbol in app select a source Of funds and its destination folks that Is true you can withw uh two United States dollars using uphold but that is Very different from saying fed now Processed an xrp transaction uh and sent It to the to US bank account those are Very different things and so to be clear Here fed now today is only a domestic Payment system it is not converting from One fiat currency to a different fiat Currency which is what you see um with With Ripple's on demand liquidity Software now known as Ripple payments Xrp is used as a bridge currency to
Convert from one fiat currency to Another again the Fed now system though In the United States here it's only a Domestic payment system so again it's Not converting from United States Dollars to some sort of other currency With uphold if you choose to withdraw Cash you're moving dollars from them to Your bank account that is a dollars to Dollars transaction from their ex their Exchange uphold to your bank account Dollars to Dollars that's it it's just Dollars the whole time it makes no sense To go from dollars convert that to xrp And then convert it back to Dollars you Didn't need to do that you added a step You already got dollars there's no do You see the problem here how it doesn't Make sense to have xrp in the FED now System do you see why now you'd be Adding an extra step you'd be adding Friction be completely unnecessary Friction in fact adding xrp to this Would increase the transaction cost and Slow the whole process down probably not By lot but it would why would you make The situation worse why would you make The experience worse why would you add Costs by throwing xrp in the Middle you you wouldn't that makes no Sense xrp is great as a bridge currency Converting from one fiat currency to Another but if you're already in dollars You don't you're not you don't need to
Bridge anything there's nothing to Bridge so it makes no so the idea of xrp Being in a Fed now payment flow is an Incoherent Concept so what is uphold actually Talking about here oh well I'm glad you Asked they sent a link they shared a Link in that post that I just shared Leading to this Page it's an uphold page US Dollar Bank Withdrawals they write the following if You reside in the US and want to Withdraw from your from the US you have Two ways to do it depending on your bank Account at uphold we provide a Withdrawal services for USD giving our Customers the flexibility to select Between instant and standard processing Times for their transactions and so they Have a column here showing what happens With standard withdrawals a which has Just been the common place for however Many decades whatever it's been and then They have a separate column for instant Withdrawals that's the new One so if you look under standard Withdrawals for processing time you can Expect it to take up to 5 days that's The automated clearing house so the Whole process could take up to 5 days a A kind of slow not the best that's why Now was created you can do it better What's the fee to use a here from uphold It's free what about
Eligibility they write here anyone with A connected bank account can use it Which isn't surprising it's a it's it's Broadly accepted everywhere in the United States that shouldn't be Surprising but we do a Fed now now it is Currently available not at every Bank You know it's a newer newer U newer Financial System but it's it's available And so if you want inst instant Withdrawals you you if you there's Compatibility yes and so they say here With instant withdrawals your funds Reach your bank account right away and That's what crypto value Hunter was Talking about it it went there right Away instantly because they're using the FED now system and that's what they said Here eligibility you need a bank that Works with fed now so that means that Crypto value Hunter's Bank uses fed now Or that wouldn't even be an option That's what that's what uphold is Talking about with that little lightning Icon that means that their Bank crypto Value Hunters bank is a bank that uses Fed now and uphold has integrated with That that's it this is a withdrawal and So that's why when he wrote here again Just sent money from uphold to my bank Using xrp no you didn't what you did was You sold your xrp you had cash then and That cash was converted instantly to
Your checking account because you have a Bank that is integrated with fed now That's it just there's nothing more to It in fact as as awesome as that is that It's fast and it is good that that's an Option it's actually more expensive Today look at this if you're using fed Now there's a variable fee of 1.75% with a minimum of $1 charge and a Maximum of $150 so you know I can see this being Valuable if you've um you know say You've got your crazy mega mega um Earnings from a crypto Bull Run and it's Time to cash out and you're like hey I I Just this is life-changing wealth I want To get in my bank account ASAP I'll I'll Pay the max fee of 150 bucks totally got It for standard withdrawals though I Mean some people won't even care you get To choose though is the point Here but there there's nothing else Going on here xrp is not being used to Facilitate the transaction that's an Incoherent concept as I've just laid out You can not See there's also this Post from Chad Stein Graber Xrp uh xrp Community member on April 1st He wrote Ripple payments is connected to Fed now service and running Bank Deposits for uphold instantly xrp is Being used for domestic transactions so Let me just cut to the chase here um and
He shared this screen grab showing that For um certain accounts institutional Level uh Ripple payments can be used and So that's on demand liquidity has been Rebranded to to Ripple payments this is Not new news so you can look here here's An article from from October 24th of Last year Ripple teams with uphold to Bolster crossborder payments Infrastructure and so um my Understanding is yes this is an on Demand liquidity thing again now known As Ripple payments uh super duper you Would expect that Ripple would be Teaming up with as many exchanges Under The Sun as Possible um then there's this headline Uh this is from March 29th of this year From coin gape Ripple payments available On uphold for institutional investors uh Okay that that has nothing to do with Fed now though so when he was writing Here you know fed now service Ripple Payments uh just to be clear no Uh Ripple has teamed up with uphold but That has nothing to do with xrp being Used in fed now it's not the same this Is why I made a video about this there's A lot of aspects of this there's been a Lot of stuff that's been circulating and It's a complex topic so I wanted to take Time to break this down as to why it's All nonsense and so now I've ripped your Hopes and dreams to shreds uh have a
Great day I don't know but none of this Matters like Xrp is still being used as a bridge Currency there it's still fantastic for Payments it's about to have an even more Vibrant stable coin ecosystem thanks to Ripple developing their own stable coin Which they're going to launch later this Year they're still all sorts of Developers that that metric has been on The whole been trending up for over half A decade uh obviously speculators the World over think that xrp deserves to be In the top 10 cryptos by market cap and It has been there for over a decade like There's all sorts of great stuff going On for xrp but this isn't it folks xrp Fed now no No it's never going to happen because That would just make things worse the Only thing you could have is xrp uh Being used as a bridge currency to link Up an entirely separate payment system In another country and then if you want To call that quote unquote part of fed Now if that happens in the future okay Then that's a semantic schem either way It's not going to be used for domestic Transactions and that's all that fed fed Now is at this moment so there we Go all right I think I've said Everything I need to say I'm not a Financial adviser you should not buy or Sell anything because of anything I say
Or right that would be a very very very Bad idea until next time to the Moon Lambo
