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Ripple and XRP
The CEO of Ripple, the San Francisco payment company, says banks and financial institutions are ready to "turn over the switch" and integrate the XRP digital asset.
In a new interview, Brad Garlinghouse told Fortune that he believes that many of the 200 banks and financial institutions that have joined the Ripple network are gearing up to use xRapid, which uses XRP to increase cross-border payments.
"This is the year that the wheat will be separated from the chaff." Not many months ago, the media said that no one would use XRP, which made good skeptical titles appear, today you can not say, because people are starting to use xRapid because it's better, faster and cheaper. "
Euro Exim Bank has just announced that it will become the first bank to commercially implement xRapid to provide payments to its customers.
With branches in London and St. Lucia, Exim says it will start using xRapid in the first quarter of this year. In the long term, it plans to use the digital resource to feed payments for its customers in 80 countries around the world.
Euro Exim is one of five new companies that Ripple states will use XRP for the payment of payments on behalf of its customers.
Here are the other four.
- JNFX, a London-based exchange company
- SendFriend, fintech based in New York for the global remittance market
- Transpaygo, fintech based in Vienna for mobile payments
- Financial Transaction Control Systems (FTCS), a financial company based in Stockholm
Ripple owns about 60% of the total supply of XRP. Ripple has blocked most of its XRP and regularly sells part of its holdings in institutions and cryptocurrency exchanges.
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