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Ripple Reveals List of xRapid Clients, Says Two New Banks Joining RippleNet

September 20, 2019

Ripple is launching a new push to promote its XRP-powered international payment solution xRapid.

It includes the first definitive list of clients that are actively using xRapid: MoneyGram, TransferGo, InstaReM, SendFriend, Mercury FX and goLance.

The document positions XRP as a digital asset that can provide instant liquidity, allowing institutions to free up capital.

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In total, Ripple says more than 20 clients have already integrated or plan to utilize xRapid.

Ripple has also updated its website, revealing it has signed up two previously unannounced banks to RippleNet, which is the company’s network of financial companies using Ripple’s technology to power payments.

Peru-based Interbank and UK-based Vitesse are now on board.

Both will likely utilize Ripple’s payment messaging system xCurrent, which is designed to be a high-speed alternative to Swift and does not use XRP.

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In August, Ripple CEO Brad Garlinghouse said the company expects to sign up 100 new clients by the end of the year.

“The Moneygram deal is really one of the first scaled use cases of a digital asset in production. This is a big deal. If I were betting now, a year from now the Moneygram deal will have a more consequential impact on the crypto markets than the Libra white paper…

Banks that two years ago told me: Hey we love your technology, we’re thrilled to be working with you but we’re not going to use crypto. I said OK great. Some of those same banks are now coming back and saying, hey let’s talk about that because they see the value.”

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