At Swell, hosted by Ripple it was revealed that three companies are now making commercial use of Ripple’s xRapid product.
XRapid employs the digital asset XRP, using it as a “bridge currency” in cross-border payments, which according to the company, reduces the cost and increases the speed of these payments by boosting liquidity.
The three companies – MercuryFX, Cuallix and Catalyst Corporate Credit Union – were announced by Ripple CEO Brad Garlinghouse on stage at Ripple’s Swell conference in San Francisco today, marking the first time companies have put the product to commercial use.
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