Lloyd Dorfman Quotes

The focus around Circle China is really cross-border payments. If I'm a parent in China and my son is studying at London Business School, I might want to send 500 RMB. I should be able to do that and have my child instantly receive it as pounds sterling, in the same way people do that with instant messages today.

When I started the business, only banks operated at airports, only banks issued travellers' cheques, only banks issued international payments, only banks serviced their own branch networks.

What xRapid allows you to do is to have real-time liquidity.

My experiment in money exchange was the temptation to set up a bank. The absence of any Islamic banking was also another factor in establishing Al-Rajhi Bank, which is now the world's biggest Islamic lender by market value.

When you print money, the money does not flow evenly into the economic system. It stays essentially in the financial service industry and among people that have access to these funds, mostly well-to-do people. It does not go to the worker.

If you go to an ATM for a hundred dollars and it keeps spitting twenties, when would you walk away? When it wasn't spitting twenties no more. As long as you can take the money out, you'd stay there. That's what the wrestling business is like.

It is usually people in the money business, finance, and international trade that are really rich.

Wall Street has become the Western extension of Threadneedle and Lombard streets, and the wealthy classes of England and America have been brought into touch... .

The idea of cross-border payments is going to completely go away... Our vision is for there to be no distinction between international and domestic payments.

Whether you talk about Africa or underbanked communities, these are all examples where Ripple can change the way society works.

I have had situations in the past when you are close to signing a player and the money involved switches from euros to pounds to dollars. It is a difficult process, but one we have to work with.

Economic diseases are highly communicable. It follows, therefore, that the economic health of every country is a proper matter of concern to all its neighbors, near and distant. Only through a dynamic and a soundly expanding world economy can the living standards of individual nations be advanced to levels which will permit a full realization of our hopes for the future.

When I first came to Wall Street, not 100 women in the whole of the United States owned stocks or dared to show independence in property ownership. Highest positioned men scowled at any thought of women investment. For a woman to consider a financial question was shuddered over as a profanity.

America has become the greatest creditor of the world, a vast reservoir in which the yellow metal [gold] is stored up without distributing that prosperity which, under normal circumstances, it would have brought to those in need of it.

Currency pegs force a common policy on countries…

I'm interested in movement, and I'm interested in money, and I'm interested in the movement of money.

Some of the people in finance touch enormous parts of the economy.

Football is big business - you can't get away from it. But you have to separate that side from the playing.

Payments banks can also act as business correspondents of other banks.

The Lebanese Diaspora can play a role in helping to build our country's economy.

The scope of activities for payments banks mainly includes acceptance of demand deposits, issuance of ATM/debit cards, payment and remittance services, and distribution of third-party products.

At Coinbase, our mission is to create an open financial system for the world. We believe that open protocols for money will create more innovation, economic freedom, and equality of opportunity in the world, just like the Internet did for publishing information.

By lowering the barrier to create new digital currency applications, we'll see an explosion in the number of ideas tried. We'll invest in, partner with, or build a number of new applications in this space, including replacements for many of the services people use in finance 1.0.

PayPal claims it can help merchants expand into international markets; its system makes it easier to do business with customers in multiple countries, for example, by handling tricky stuff like currency conversions automatically.

PayPal, which was founded in 1998, may be the closest thing to a global currency that has ever been created. Based in San Jose, California, the company operates in 190 markets, sending and receiving payments in 24 currencies on behalf of 90 million active members.