Ripple’s XRP Is Now Being Used By Three Companies For Real Payments
At Swell, hosted by Ripple it was revealed that three companies are now making commercial use of Ripple’s xRapid product.
XRapid employs the digital asset XRP, using it as a “bridge currency” in cross-border payments, which according to the company, reduces the cost and increases the speed of these payments by boosting liquidity.
The three companies – MercuryFX, Cuallix and Catalyst Corporate Credit Union – were announced by Ripple CEO Brad Garlinghouse on stage at Ripple’s Swell conference in San Francisco today, marking the first time companies have put the product to commercial use.
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