Ripple News: 12 companies use xRapid; XRP receives more base pairs
Home News Ripple News: 12 companies use xRapid; XRP receives more base pairs
Marcel Knobloch –
The American Startup Ripple offers a variety of software solutions for small as well as medium-sized companies in order to make cross-border payments faster and cheaper. Last year xRapid went to work as a commercial product at the Start and has been expanding since the constantly.
The number of companies is increased to integrate the xRapid in their internal business processes since last October 2018 to a total of 12. Ripple has confirmed that so far, the crypto exchanges Bittrex, Bitso, Coins.ph and Bitstamp will use the payment solution xRapid, in order to strengthen their Transfers in the United States, the Philippines and Mexico. Furthermore, Cuallix plan, Mercury FX, and Catalyst Corporate Federal Credit xRapid for international transactions. Other people interested in the product or already in a pilot phase of the SBI Virtual Currencies, IDT, Viamericas, Sendfriend and Bitrue are testing. This clearly shows that the demand for an Alternative payment processing is already big now and in the near future will continue to rise.
xRapid is used for the execution of cross-border payments. What is special is that there is no frontloaded Nostro account must be present. It refers to the liquidity of XRP in the world to the stock exchanges in circulation. As a result, transactions will be worldwide within a short period of time, usually a few seconds, and processed at low cost in comparison to traditional methods of the traditional banking system. RippleNet is a companies private network, which is already more than 120 partners, but only a fraction uses part of it xRapid. With the increasing acceptance of crypto-currencies, the Expansion of xRapid could be further promoted.
XRP gets more base pairs
The Expansion of XRP Base relies on well-known Brösen this year. The Singapore-based stock exchange Bitrue has added 5 new base pairs for XRP. To TRON, Stellar, NEO, GAS and OmiseGo.
At the end of last year, one of the largest stock exchanges in the world, Binance had added, after a long Outcry from the Community XRP as the base pair for Bitcoin and selected Altcoins.