xRapid, a blockchain product by San Francisco based Ripple is witnessing a good amount of reach within a short span of its launch. However, Ripple has already celebrated the success of RippleNet which was earlier counted for having more than 200 fintech players in its bucket.
In the latest interview set on stage at the Blockchain Summit last week, Marjan Delatinne who is the global head of banking at Ripple spoke about XRP, xRapid, xCurrent and her experience of working with both, Swift (earlier) and Ripple (current).
While speaking on a topic “How DLT will make global payments faster, cheaper and easier to use”, she confirmed that xRapid went live in last October and henceforth it is still a very new product in the fintech market. Continuing that she stated, despite short span, xRapid a successful application for more than 20 financial institutions. She stated;
The use case that we have around xRapid is that, rather than tying up capital, we reconcile the transfer of the messages and the value itself. xRapid is about sourcing on-demand liquidity, Delatinne, Marjan said. xRapid went live last October, so it’s a very new product, but we have more than 20 financial institutions using it.
In actual fact, Ripple isn’t urging any firm to use XRP directly – rather, it let banks/fintech players employ xRapid to source on-demand liquidity. Nevertheless, xRapid underlies XRP cryptocurrency which helps users to have “fast and low-cost provision of liquidity when they need it – concerning this, she continued;
Without the obligation of tying up capital in advance in pre-funded accounts.
Image source – gtereview
How Is the XRP Lawsuit Going And How Investors Make More Money on the Recent Fluctuation of XRP Prices?
XRP Holders are Seeking intervention in the SEC’s Lawsuit Against Ripple
New Report Says Ripple Is A Potential Competitor To Indian Traditional Banking System
A Major US News Magazine is Now Accepting Crypto for Subscriptions
Ripple’s Partner SBI Offers Clients Bonus In XRP If They Participate In Company’s STO
Recent Press Release
The Best NFT & DeFi Project Token Sale, TimeCoin(TMCN)
The best opportunity to invest in TimeCoin(TMCN) to realize both capital and income gain. The Special Token Sale of TimeCoin...
Place 1xBit bet BTC and Win
cryptocurrency is very much valued in the modern world, because it allows fast and secure transactions in different parts of...
Hips Payment Group Launches Merchant Token (MTO), a Cryptocurrency That Will Bring Consumer Protection to Blockchain Payments
Solution supports decentralized finance (DeFi) trend with consumer protection via smart contracts. DUBLIN, Ireland (April 1, 2021) – HIPS Payment...
Best 5 Crypto Social Trading Platforms
Over the past few years, technology has brought about drastic changes in how people approach the subject of investment. As...
TimeCoin (TMCN) Special Token Sale is Live Join Now!
The Special Token Sale of TimeCoin (TMCN) was launched on February 15th, 2021, with a 93% discount on the token’s...