Ripple Asia-Pacific Regulatory Relations Director Sagar Sarbhai told CNBC yesterday that the company's xRP-enabled product xRapid will be live "in the coming months". For the course of XRP, this could be a huge boost.
Sagar Sarbhai told CNBC that he is confident that xRapid will be productive soon.
I am very confident that over the next few months you will see some good news from which we bring the product live to production.
Unlike the company's other products, xRapid uses the XRP cryptocurrency. XRapid is currently in a test phase. However, a number of companies have already tested xRapid for cross-border payments in pilot projects in recent months. As Brad Garlinghouse, CEO of Ripple explained, several tests by financial institutions on the US-Mexico payment corridor have shown that savings of up to 70 percent compared to previous costs are possible.
So far, there are a total of ten companies that have publicly announced that they are conducting an xRapid test project, or already three companies that are using xRapid productively to send cross-border payments.
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