xRapid Now fully Available for Commercial Use as Announced by Ripple’s CEO Brad Garlinghouse at the Ripple Swell 2018 conference in San Francisco.
Garlinghouse also made known that three financial firms are already set to first utilize this crypto product, Mercury FX , Cuallix, and cooperative financial firm Catalyst Corporate Federal Credit Union.
In An Interview with CNBC Ripple’s senior vice president of product Asheesh Birla, said,
“I’m really excited to bring the product into the market at a time when there is a lot of skeptcism about digital assets and their real use case,”
Here’s something where we’re finding a ton of value and providing a ton of value to our customers using digital assets to move money more efficiently.”
xRapid is Ripple’s product that will allow financial institutions to easily send cross-border transactions instantly with very cheap fees when compared to other traditional ways of transaction formats.
This Integration is the first time XRP is fully going out to the global market for widespread commercial use by financial institutions and is a huge development that will definitely take the crypto sphere for massive adoption and Part of financial Mainstream.
Garlinghouse Also said he expects dozens of banks to integrate XRP before the end of 2019 which will aid them to process faster cross-border transactions.
As At the time of writing XRP is Currently at $0.582 with A Market Capitalization of $23,246,686,021.
Should we Expect a Spike in the Price of XRP with this huge product ? Let me know what you think in the comments.