"The solution is moving payments to a blockchain-based, distributed ledger technology system, like the one fintech company Ripple licenses, which allows transactions to flow smoothly like a text message, Waters said. A customer can send a transaction using Ripple from the United States to Mexico and have the customer on the other end collect the money from his participating Mexican bank in pesos. The foreign exchange is built in to the transaction and the participating banks are part of the same system. ...
Currently, payments move at the speed of 1000 transactions per second, which makes the entire operation very scalable, said Waters, U.S. sales director at Ripple"