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Ripple Reveals Massive Growth of XRP-Powered xRapid As Transactions Soar

July 25, 2019

The second quarter of 2019 posted a record number of customer transactions on Ripple’s’ XRP-based cross-border payment solution xRapid.

According to Ripple’s Q2 report, the number of xRapid transactions increased 170% from Q1 to Q2 and the company had a 30% increase in the number of live xRapid partners in the second quarter.

“Ripple anticipates this momentum in transaction volume to continue as more partners and customers go live.”

Ripple recently revealed it now has 20 customers using xRapid, which is currently powering money transfers between Mexico and the Philippines.

Last month, Ripple partnered with MoneyGram, one of the world’s largest money transfer companies. As a legacy leader in the space, MoneyGram says it plans to use xRapid.

In its new markets report, Ripple also highlights its continued expansion of Xpring, the company’s fundraising arm designed to “support the open source community of developers, building on the decentralized XRP Ledger and use cases for XRP on that ledger.”

“This support is done in two ways:

1) helping innovative blockchain projects grow through partnership and investment; 2) building crypto infrastructure through contributions to open source crypto protocols such as the XRP Ledger and Interledger projects.

In addition, Xpring is building a developer platform to support open source developers to leverage these protocols.”

So far, Xpring has invested half a billion dollars to boost XRP and grow the blockchain ecosystem at large. 

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