Ripple launched the xRapid last October receiving wide-reaching acclaim and even causing a spike in the value of the coin. The company is in the news again as three crypto giants are reportedly set to adopt the international remittance service provided through the XRapid platform.
Three companies reported to be interested in the X-Rapid adoption are eToro, the asset trading and social investment platform, Binance, the crypto exchange giant and SBI virtual currencies, a subsidiary of SBI Holdings, the Japanese financial giant.
The Ripple xRapid utilizes XRP to provide on-demand liquidity across the globe taking advantage of the Ripple platform’s high transaction speed and low cost to make remittance services cheaper.
The service was designed to comply with international regulations enabling banks, crypto exchanges and other financial service providers to adopt it easily. The XRP sent through Ripple xRapid is converted to fiat on receipt making it adaptive internationally.
EToro, Binance and SBI Virtual Currency
Hanging out at @Ripple in SF, learning more about xRapid. Thanks @chrislarsensf $XRP #blockchain pic.twitter.com/D6ZZWRigDp
— Yoni Assia (@yoniassia) March 7, 2019
The eToro CEO Yoni Assia confirmed that the company is studying xRapid in a tweet. He also met withat the Ripple CEO, Brad Garlinghous at the Paris Fintech Forum to discuss possible partnership.
Assia has also visited the Ripple headquarters in the bid to see xRapid in operation. These are recen t indications that the company is seriously considering xRapid as part of its operations.
The Binance CEO, Changpeng Zhao also revealed in a recent AMA that the exchange giant Binance is looking at possible partnership with Ripple to adopt xRapid.
In the Periscope AMA live streamed, CZ said,
“We’re focused on launching more features right now, so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future, we’ll definitely want to add them as a partner.”
SBI Group already has a custober base of 23.4 million. The company’s subsidiary SBI Virtual Currencies has been considering the adoption of xRapid and is an unsurprising partner of Ripple.