On Monday, October 1st Ripple announced that three financial institutions are scheduled to begin using Ripple’s xRapid product to handle international transactions. The announcement was made Monday at Ripple’s annual two-day conference, called Swell. The announcement was made by Ripple CEO Brad Garlinghouse. Major Breakthrough for Ripple XRapid will be deployed by Catalyst Corporate Federal Credit Union, Cuallix, and Mercury FX. Mercury FX and Cuallix are both payment providers, while Catalyst Corporate Federal Credit Union
Ripple, a real-time gross settlement system, currency exchange, and remittance network, has announced the results of its first pilot for xRapid — the company’s business solution for payment providers and financial institutions looking to expand their reaches into new markets with increased scale, speed, and cost efficiency. Promising Results In its push to modernize financial services infrastructure via high-powered blockchain-powered solutions, improve the speed and cost of cross-border payments, lower barriers to financial inclusion, and
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Ripple, the third largest cryptocurrency by market cap, has been on a tear lately, and it has now signed a significant deal with Saudi Arabia’s central bank. Ripple Rapidly Gaining Traction Ripple continues to make inroads into the traditional financial sector. It has recently announced a massive deal with the UAE Exchange and a major partnership with Lianlian International. Additionally, Banco Santander is set to roll out Ripple payments in Q1, and just today came the
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San Francisco-based Ripple has not had the best of starts to 2018. Its cryptocurrency, XRP, has been on a downward slide since the first week of January and has lost almost 70% of its value. However, things could be about to turn around for the company as Western Union is now test driving its transfer technology. The list of banks and financial institutions that are using and testing Ripple’s products is growing by the week.
Online shopping is an immense industry in China, with hundreds of millions of users and worth over $670 billion last year. Some of the largest e-commerce markets on the planet are targeted at Chinese consumers, and their spending power is growing. Payment convenience is a key component of the success of online marketplaces, and Ripple intends to facilitate that with new partnerships in the country. In an announcement on the Ripple company blog yesterday, the
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