Yesterday, during the Day 1 of the Ripple’s Swell Conference, Brad Garlinghouse, Ripple CEO, announced xRapid.
xRapid would allow XRP to be used for banks, marking the first time a digital asset will be used in commercial payments by any financial institutions.
MercuryFX, Cuallix & Others – xRapid Customers
xRapid will replace the current slow, expensive payment architecture with its advance cost-effective and time-saving technology using XRP.
Ripple official statement quoted as follows on ripple.com:
“RippleNet is now providing on-demand liquidity to financial institutions for cross-border payments using the digital asset XRP. xRapid, the Ripple product powering these transactions, is commercially available and moving into production with multiple customers, including MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union.”
What is the future of XRP?
In our opinion, the demand for XRP can increase drastically as financial institutions and banks would now have to buy XRP to transact cross-border payments.
Can XRP reach $1?
What do you think? Give us your opinion in the comments below.