Ripple Could Launch xRapid Solution ‘In the Next Month or So,’ Says Exec
Ripple could launch a commercial version of its payment platform xRapid "in the next month or so," CNBC reported September 17.
Head of regulatory relations for Asia-Pacific and the Middle East at Ripple Sagar Sarbhai told CNBC that Ripple has been making strides toward the launch of its product xRapid.
The xRapid product is a real-time settlement platform designed to speed up international payments.
This spring, various financial institutions participated in a pilot of the xRapid platform, which tested payments between the U.S. and Mexico.
In addition to saving on costs, the parties noted an improvement in transaction speed — from the average 2–3 days to “just over two minutes.”
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