Ripple reveals the upcoming launch of XRP Crypto Solution xRapid


Ripple heads regulatory relations for Asia-Pacific and the Middle East says XRP's XRPid product will go live "in the next month or so . "

Sagar Sarbhai told CNBC that it is certain that commercial production will start soon.

"I am very confident that in the next month or so you will see some good news coming up where we launch the product live in production."

The company's real-time regulation software is designed to use XRP to increase the speed of cross-border payments.

Numerous companies have tested xRapid in a pilot cross-border test project. In a pilot project between the United States and Mexico, Ripple said that financial institutions using xRapid have saved 40-70% of what they would have paid to foreign currency brokers. This figure translates into savings of $ 12 to $ 21 billion each year

Ten companies publicly announced test pilots using the platform, with three plans to fully implement xRapid.

Ripple CEO Brad Garlinghouse said earlier that he believes dozens of financial institutions will use xRapid commercially by the end of next year.

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