Recently, Ripple announced the commercial availability of xRapid. It is an API that automates the whole process of moving funds instantaneously from one country to another by leveraging on XRP, an on-demand liquidity asset. Initially, and as reported by Ethereum World News, three companies were the first to adopt. But the entry of Viamericas is a definite game changer.
In a recent publication Ripple said: “Global payment providers, such as Viamericas, Cuallix, IDT, MercuryFX and others are using xRapid to significantly lower their liquidity costs and send real-time payments, an industry first” Why? Well, the chairman of Viamericas Paul S. Dwyer, is also the chairman of the US Money Service Business Association (MSBA) and the association work directly with US regulators including the US Security and Exchange Commission (SEC). A level deeper and we can digest what this means. First, the MSBA mission statement is clear. Their main objective is to allow innovation and development of payment industry while “promoting the education and communication with Federal and State Regulators”.