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Although it is no exaggeration to say that Ripple began in 2019 with a defeat, the company behind the digital heritage proceeds, focusing on its developments and plans.
As previously reported, ETH has claimed the second most important cryptocurrency title on the market.
Other entries in the cryptographic space have predicted that the token will eventually regain second place and now it has happened.
They were arguing that it was only a matter of time until Ripple's digital assets fell under the pressure of Eth and that's exactly what happened.
12 companies have confirmed that they have implemented or are planning to use xRapid
At this point, Ripple confirmed that the cryptographic exchanges of Bitso, Bittrex, Bitstamp and Coins.ph will use its software solution powered by XRP, xRapid to increase the speed of cross-border transactions between the United States and the Philippines and the United States and Mexico.
Ripple also said that the payment platforms Cuallix, Mercury FX and Catalyst Corporate Credit Union Union would use xRapid to increase the speed of cross-border transactions.
Now, five other companies have announced they are planning to implement xRapid in the near future:
- SBI Virtual currencies
- IDT
- Viamericas
- SendFriend
- Bitrue
Ripple has implemented xRapid for commercial production in October 2018
In October, Ripple implemented xRapid for commercial production.
The company behind the XRP digital asset has made sure to highlight its use case, saying it is a regulatory way of claiming to send money from one part of the world to another fast and cheap one.
"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. "
