August 21, 2018 580By Nathan Bentley
“We’ve seen several successful xRapid pilots already, and as we move the product from beta to production later this year, these exchange partners will allow us to provide financial institutions with the comfort and assurance that their payments will move seamlessly between different currencies.”Moreover, we can’t forget this recent development which saw xRapid grow as a part of a test between the United States and Mexico:
“Ripple and its partners have been testing xRapid in a series of cross-border pilot tests around the globe. In one test between the US and Mexico, Ripple said financial institutions using xRapid saved 40-70% on what they would have typically paid foreign exchange brokers. That figure translates to $12-$21 billion in savings each year.”See more for yourself, here. What are the further implications of this? This cements the development of Ripple, xRapid and XRP. It’s unlikely to cause the value of XRP to spike, but in turn may encourage an increase in trading volume over time. xRapid isn’t an iPhone, therefore people won’t be queing at Ripple’s doors in order to secure it on the day of release, but, over time, should the software prove itself as a viable product and solution, more and more companies will want in, and will hopefully get a hold of this growing technology, meaning xRapid, Ripple and XRP are set to see some growth from this in the long run.