The solution for the calculations in real time xRapid from Ripple launched and available for commercial use.
xRapid is a platform designed to accelerate international payments, its use allows the participants to abandon the use of prepaid nostro accounts. The product provides liquidity by XRP is available in a number of international cryptocurrency exchanges partners.
XRapid pilot project was launched in may with the participation of MercuryFX and Cuallix. Participants in the pilot project stated that the use of this technology allows to save from 40 to 70 percent of the transactions, moreover, the speed of execution of payments also increased from 2-3 days to about 2 minutes.
Currently Cuallix manage cash corridor from the US to Mexico, and MercuryFX works with xRapid in the corridor Europe-Mexico.
Currently Ripple has partnered with three of the cryptocurrency exchanges Bittrex, Bitso Mexican and Filipino Coins.Ph. All these exchanges are participating in the project xRapid for the transfer of funds in XRP, USD, Mexican peso and Philippine peso respectively.
The price of XRP has increased significantly over the last month, and even for a short period of time XRP has managed to surpass the market capitalization of Ethereum (ETH).
Price soared after the announcement that xCurrent from Ripple will be used by the Treasury PNC to accelerate cross-border transfers, and after a hint that Ripple is preparing to launch xRapid in the near future.