Bitcoin, Crypto currency, Blockchain

Ripple: IDT Corporate and MercuryFX test xRapid and XRP

8755b27e1794708ae968f232f33a3777 - Ripple: IDT Corporate and MercuryFX test xRapid and XRP

The Ripple Team has yesterday announced that the telecommunications provider IDT Corporation and the international payment services MercuryFX, the xRapid technology, and also the XRP-Token pilot. Thus, Ripple can win two more companies will be testing the in-house xRapid technology, and perhaps later, use it productively.

Both companies follow in order for MoneyGram and Cuallix (a Mexican financial services provider) that also use stream XRP in your payment, to wire Transfers, and commercial transactions around the world in real-time.

MoneyGram, the world’s second-largest Payment, the shipper, had announced a few weeks ago, xRapid to test. Cuallix became in October the first financial services provider, the xRapid, and also the XRP-Token-productive uses.

MercuryFX is a leading global foreign exchange trader who focuses on transfer payments in the retail trade and in the framework of global payments in real time would like to support. As on the company’s website is advertised, charges the company its customers better exchange rates and lower transaction than traditional banks.

“We offer our clients bank-beating exchange rates and lower transaction fees on all international transactions. Whether it’s receiving or sending currency internationally, we will always provide a better service with better exchange rates and at a lower cost than the banks.“

IDT Corporation is a publicly traded telecommunications company that enables Online money transfers between individuals and the goal is to allow its customers a cost-effective global payments.

How in the press release on the website of Ripple run, want to investigate both possibilities to increase the speed of private financial flows in such a way that this can be implemented in real-time. In the framework of which the Senior Vice President of IDT in a press release, explains:

“We’re excited to pilot Ripple’s xRapid solution for on-demand liquidity. We expect that xRapid will enable us to settle more transactions in real-time and at a lower cost.“

Criticism of Ripple and XRP

Ripple in the past year, Often in the criticism, because the XRP-Token itself, so the critics, has no use in the RippleNet. The critics noted that while many banks (over 100 banks) to test the RippleNet, or even benefit, however, not the XRP-Token.

This is, however, to distinguish. RippleLabs offers two different products: xCurrent and xRapid. Although both are, to worldwide money Transfers cost-effectively and in real-time. However, only xRapid uses the XRP-Token as a bridging currency, whereby financial service providers no longer need to hold various foreign currencies, to global transactions.

In the past, cooperation had a preferred partner of Ripple, especially banks, always xCurrent. Therefore, the criticism from our point of view, was justified in the past.

The acquisition of new partners, put on xRapid, however, could let the critics fall silent and at the same time a positive Signal for the price of XRP to send.

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