Ripple Partners With Three Crypto Exchanges as Part of XRapid Solution
Ripple has added three cryptocurrency exchanges to its cross-border payments settlement product, according to a press release published August 16. Ripple has partnered with U.S.-based Bittrex, Mexican Bitso, and Philippine Coins.Ph cryptocurrency trading platforms within its initiative to build a “healthy” ecosystem of digital asset exchange. The new partners will enable Ripple’s xRapid payments solution to move between XRP and U.S. dollars, Mexican pesos, and Philippine pesos respectively. Ripple explained the operational principle like this: “A financial institution (FI) that has an account with Bittrex would initiate a payment in U.S. dollars via xRapid, which instantly converts into XRP on Bittrex. The payment amount in XRP is settled over the XRP Ledger, then Bitso, through its Mexican peso liquidity pool, instantly converts the XRP into fiat, which is then settled into the destination bank account.” XRapid is a liquidity solution for Ripple’s blockchain-based real-time gross settlement system, which is developed to facilitate international fiat transfers between financial institutions.
Ripple’s (XRP) is up 9.6% over the past 24 hours and is currently trading at $0.317429 USD
XRP had a 24 hour low of $0.285714 and a high of $0.320727
XRP is the 3rd largest cryptocurrency by market cap size
XRP currently has a marketcap of $12,484,114,138 USD
Its 24 hr trading volume is approximately $341,112,198 USD
It has a circulating suppy of 39,315,683,476 XRP
About Ripple's (XRP): Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts. Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement. XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa. XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.
Ripple's (XRP) can be bought with fiat dollars, debit and credit cards on cryptocurrency exchanges such as CEX.io and Changelly.com and it can be bought with cryptocurrency on exchanges such as CoinEx, Binance, and HitBTC.