Ripple signs up payments firms to start xRapid
Ripple’s latest announcement on Monday, October 01, 2018 states the xRapid is now commercially available. The news rolled out when Ripple CEO Brad Garlinghouse named three firms that deploy its new product. Accordingly, Cuallix and Mercury FX, the payment service providers and Catalyst Corporate Federal credit union, financial institutions seems the major players organizing the pilot phase of xRapid.
The result in increasing implementation of blockchain technology by financial firms led Ripple launching new services. As in the case of xRapid that uses XRP enable firms to powerup the international transfers.
“I’m really excited to bring the product into the market at a time when there is a lot of skepticism about digital assets and their real use case,”
said, Asheesh Birla, Ripple’s senior vice president of product.
“Here’s something where we’re finding a ton of value and providing a ton of value to our customers using digital assets to move money more efficiently.”
The new technology of Ripple that has rolled out earlier this year is to say to settle transactions “in a matter of minutes. Furthermore, Ripple claims that the firm participating in a pilot phase of the launch will likely experience significant reductions in the cost for sending international payments.
It was discussed at the “startup’s annual Swell conference” on Monday
The project would be the first of its kind for financial institutions to employ virtual currency in commercial products. However, the Brad Garlinghouse declined to disclose the probable payment Ripple expects from these three firms employing xRapid.
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A glimpse on Crypto Price
At the time of writing Ripple stands with $0.56, showing the negative mark of 0.15% in 24 hours. According to the Coinpedia Altcoin tracker, Bitcoin trade at the range of $6582.41, and Ethreum is trading for $229.04.
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