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Swell by Ripple: 3 Companies are now using XRP xRapid for Real Payments



At Swell Conference in San Francisco today, Brad Garlinghouse announced that 3 companies are now using Ripple’s xRapid for commercial use.

Garlinghouse concluded, “We’re only as good as our ability to solve our customers’ problems. And the work partners like MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union are doing with xRapid has demonstrated that we’re solving a real problem.”

According to the company, xRapid makes use of XRP as a “bridge currency” in cross-border payments.

Garlinghouse explained, “It’s about the opportunity to be a builder — to partner with industry and enable something that hasn’t yet been seen: the dawn of another era in globalization.”

He also stated at the Swell Conference on how Blockchain offers an opportunity to reduce the friction between global payments. By bringing these three networks together, Garlinghouse explained, “We can truly enable an Internet of Value. We can enable money to move in the same way goods and data. We can enable global commerce to accelerate, industries to grow and a new segment of the population to be brought into the fold.”

On the other hand, Garlinghouse also cautioned that Blockchain space is totally new. “It’s full of experimentation without a lot of the results. Ripple is unique in that it has real use cases for blockchain and real production flows. This is because Ripple has focused on solving one problem, not many.”

As Garlinghouse explains, “Too many companies have a peanut butter problem. They’ve spread themselves very thin, working on lots of different initiatives. By contrast, Ripple has gone deep in understanding how global payments problem can be addressed with blockchain technology and digital assets.”

Stay tuned with us for the latest updates from the Swell Conference.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.