In an interview with CNBC on Sept 17th, an executive revealed that Ripple could launch a commercial version of its payment platform xRapid “in the next month or more. In a word with CNBC, he said Ripple has been making strides toward the launch of its product xRapid.
The xRapid product designed to speed up international transaction is built for commercial purposes and is backed up by XRP tokens. The said solution is expected to address issues of minimizing liquidity costs thereby making cross-border payment transactions quicker and faster.
In a speech with CNBC, Head of regulatory relations for Asia-Pacific and the Middle East at Ripple, Sagar Sarbhai said:
“I am quite confident that in the next one month or so you will see some good news coming in where we launch the product live in production” taking into consideration the change of approach towards cryptocurrency by regulators who previously referred to blockchain as good and crypto as bad.
Last month, the crypto firm, Ripple partnered with 3 prominent crypto exchanges: U.S.-based Bittrex, Mexican Bitso, and Philippine Coins.Ph. This partnership is seen as a part of xRapid’s solution to build a “healthy” ecosystem of digital asset exchanges and primarily to enable xRapid move between XRP, U.S. dollars, Mexican pesos, and Philippine pesos.