{"id":7990,"date":"2018-08-21T12:48:35","date_gmt":"2018-08-21T12:48:35","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=7990"},"modified":"2018-08-21T12:48:35","modified_gmt":"2018-08-21T12:48:35","slug":"ripples-xrapid-platform-is-ready-for-commercial-rollout","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/ripples-xrapid-platform-is-ready-for-commercial-rollout\/","title":{"rendered":"Ripple\u2019s xRapid Platform Is Ready For Commercial Rollout"},"content":{"rendered":"

\"\"Ripple has announced that its xRapid platform is now ready for a commercial roll out. The software, which facilitates real-time settlement, makes use of XRP token<\/a> in order to provide on-demand liquidity and increase the speed at which cross-border payments are processed. <\/p>\n

Cory Johnson, Ripple\u2019s chief marketing strategist has mentioned that xRapid will enter commercial phase in the next 3-4 months.<\/p>\n

Johnson<\/strong> said<\/p>\n

\u201cWe\u2019ve 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.\u201d<\/p><\/blockquote>\n

For the past six months, several companies worldwide have been piloting xRapid platform. Specifically, in a test involving payment transfer between the US and Mexico, Ripple stated that firms that used xRapid were able to save between 40% and 70% on the amount they would have otherwise paid to Forex brokers. The figures claimed by Ripple translate to $12 to $21 billion in savings every year.
\nOut of the 10 companies which have publicized the use of xRapid platform, three have agreed to implement the platform soon.<\/p>\n

The list of companies which are testing xRapid are as follows<\/p>\n