Ripple Payment Solution xRapid is Expanding

Ripple Payment Solution xRapid is Expanding

The number of companies adopting Ripple’s XRP token powered cross-border payments solution xRapid is expanding. A total of 12 companies have now confirmed they have either implemented or plan to utilize the xRapid technology."Ripple Payment Solution xRapid is Expanding"

Ripple Payment Solution xRapid is Expanding

So far, Ripple XRP has confirmed cryptocurrency exchanges Bittrex, Bitso, and Bitstamp will use the software technology solution to boost payments between the United State and the Philippines, and Mexico.

Ripple XRP also says payment platforms Cuallix, Mercury FX, and Catalyst Corporate Federal Credit Union will use xRapid technology to improve the speed of their user's cross-border payments.

Outside of that, more 8 additional companies have announced that they plan to implement xRapid technology in the future.

  • SBI Virtual Currencies
  • IDT
  • Viamericas
  • SendFriend
  • Bitrue

Ripple developers launched xRapid for commercial production in October, highlighting its use case as a regulatory compliant way to use digital assets to send payments from one part of the world to another.

xRapid software eliminates the need for a pre-funded Nostro account when executing a cross-border payment. It sources liquidity from Ripple XRP on exchanges around the crypto world. As a result, cross-border payment transaction occurs in minutes and at a lower cost compared to traditional payment methods, which take days and incur high foreign exchange fees.

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