Web
Analytics Made Easy - StatCounter
7 Companies Confirmed to Be Using Ripple’s XRP-Powered xRapid Technology

7 Companies Confirmed to Be Using Ripple’s XRP-Powered xRapid Technology

Companies are beginning to implement Ripple’s xRapid. XRapid is an XRP-powered payment system created by Ripple which allows financial institutions a real-time payment solution that uses XRP to increase speed and liquidy of global payments.

Chris Larsen, a Ripple co-founder, described how the tech can be used and showed off a payment between US and Mexico as a demonstration. Ripple has confirmed seven companies ready to utilize their technology.

Crytpo exchanges Bitso, Coins.ph, and Bittrex are the newest partners to join the pack. xRpaid will allow them to send instant cross-border payments with minimal fees. Mercury FX is also part of the pack after completing a pilot test and statting the speed of xRapid “unbelievable.”

SBI Virtual Currencies, Cuallix, and Zip Remit have also confirmed partners. Other companies such as IDT corporation, MoneyGram, and Cambridge Global Payments are currently piloting the technology. Western Union also announced ts pilot test of the technology and said that it didn’t save the company time or money and offered no benefit. Ripple said that the results are geared towards smaller financial institutions will see the most benefit from xPaid.

Ripple’s head of regulatory relations for Asia-Pacific and the Middle East, Sagar Sarbhai, said that xRapid will officially launch in a month.

Been in the game for 2 years but I still consider myself a rookie. There’s way too much info out there for anyone to comprehend, so I try to get only the best news on cryptoculture and new currency that’s coming out in the world of Bitcoin and cryptocurrency. I’m here to share my thoughts on what could be the answers to many of the world’s financial issues. Contact me with tips!

Disclaimer: Our authors may hold active positions in one or multiple cryptocurrencies discussed on this news portal. Opinions expressed at AWSMO are NOT investment advice and any investment in one or more cryptocurrencies may be high-risk and extremely volatile. Please due your due diligence before making any investments in any cryptocurrency. Your investments are your own risk and you assume full responsibility for your actions.

What do you think?

avatar