• The Informer Post
  • Posts
  • Confirmed: 12 Companies Adopting Ripple’s XRP-Based Payment Solution xRapid

Confirmed: 12 Companies Adopting Ripple’s XRP-Based Payment Solution xRapid

January 02, 2019

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

So far, Ripple has confirmed crypto exchanges Bittrex, Bitso, Coins.ph and Bitstamp will use the software solution to boost payments between the US and the Philippines, and the US and Mexico.

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

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

Ripple 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.[the_ad id=”36860″]

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

You can check out the company’s plans for the future of xRapid here.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.