xRapid goes into production with three payment service providers
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Garlinghouse announced that xRapid is now commercially available and will be in production with three customers: MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union. XRapid is the ripple product that uses the cryptocurrency XRP for the transactions. With this solution, the company offers financial institutions on-demand liquidity for cross-border payments, as xRapid eliminates the need for a pre-funded nostro account when making cross-border payments. XRP serves as a "bridge currency". As a result, cross-border payments can be made in minutes and at a lower cost.
Alastair Constance, CEO and founder of MercuryFX said in the news release:
MercuryFX has been working closely with Ripple for more than a year to harness the power of RippleNet to our customers. In pilot trials, we recognized the benefits of xRapid and are looking forward to> commercializing
payments within this quarter. Now the time has come to replace slow, expensive payment architectures, as the need for a global, fast cash flow has never been so great.
Think this is just the beginning going to be a fun ride riding the XRP train;)
Same thought
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It will be interesting to see how price is affected with this launch of XRapid.
I think it will pump, but it’s interesting to see if it will be a pump and dump
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Exactly. Or will the price climb as Ripple gains customers on this platform?
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Excellent news! Ripple is truly brining great innovations.
Ripple’s xRapid uses the cryptocurrency XRP for transactions. Great news
The XRP price rose briefly from around 0.54 to nearly 0.60 USD on the heels of the announcement.
Great to see that xRapid is now commercially available, and three customers in the production: MercuryFX, Cuallix, and Catalyst Corporate Federal Credit Union in production.
Ripple xRapid, a cross border payments product that minimizes liquidity costs have been released by Ripple and it is now commercially available
@tradewonk, In my opinion it's important aspect to look forward, as how this will work because in my opinion in this phase xRapid is trending aspect and in my opinion everyone is waiting to see how it will move.
Wishing you an great day and stay blessed. 🙂
Great to see production happening. Still really interested to see what ends up happening with Western Union. Hopefully they have a more positive experience than previously reported.
Future looking bright for XRP.
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