With 39 Billion XRP Circulating Supply, Crypto-analysists were always categorizing Ripple Digital Asset ‘XRP’ as failed coin with no promising future or to stay low priced for 5 – 10 years at least to attract investments, as Banks announced to use xCurrent and xVia services but not yet dare to test xRapid serrvices.
But, Today after UK FX Brokerage announced that it has tested the world’s first international money transfers between US, Mexico and Europe through xRapid successfully, XRP is now considered officially the fastest & most efficient Blockchain-based Payment Method.
Brian Harris, Currencies Direct product chief in UK FX Brokerage said :
“Our trial with XRP was a resounding success. We’re currently assessing our next steps, but the evidence we’ve gathered indicates that the use of XRP is a game changer, making payments near-immediate and significantly improving service to our customers.
We believe that utilising cryptocurrencies in this way – as a transfer of value, rather than as a store of value – is the next logical step for our industry. It is, after all, the intended purpose of cryptocurrencies and we’re proud to be leveraging new technology to deliver the most convenient and seamless experience for our customers.”
How was this Transactions done with xRapid ?
- Money Transfered between financial institutions in the U.S. and Mexico and Europe
- Financial institutions connected directly to XRP exchanges in both sides
- Sender currency is exchanged into XRP, Transferd into Receiver Wallet then exchanged to the destination currency
- Transactions Saved 40-70 % compared to foreign exchange brokers fees
- Transaction took just 2 minutes ( XRP Ledger takes only 3 seconds, and the rest of time was consumed in local payment transfers )