Confirmed: 12 companies using Ripple xRapid's XRP-based payment solution

The number of companies adopting XRP's XRP cross-border payment solution is expanding. A total of 12 companies have now confirmed that they have implemented or intend to use the technology.

So far, Ripple has confirmed the cryptographic exchanges Bittrex, Bitso, Coins.ph and Bitstamp will use the software solution to increase payments between the United States and the Philippines, the United States and Mexico.

Ripple also says that the payment platforms Cuallix, Mercury FX and Catalyst Corporate Credit Union Union will use xRapid to improve the speed of their customers' cross-border payments.

Outside of this, eight additional companies have announced they intend to implement xRapid in the future.

Ripple launched xRapid for commercial production in October, highlighting its use case as a regulatory compliant way to use digital resources to send payments from one part of the world to another.

"XRapid eliminates the need for our pre-funded account when making a cross-border payment, providing liquidity from XRP on stock exchanges all over the world, so cross-border transactions take place within minutes and at a lower cost than traditional methods, which take days and involve high exchange fees. "

You can check the company's plans for the future of xRapid here.

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