Ripple CTO confirms continued AmEx and WU piloting of xRapid

22 Aug, 2018
by Matthew Kim
News
Ripple CTO confirms continued AmEx and WU piloting of xRapid

The CTO of Ripple Labs Stepfan Thomas confirmed in an interview with the “Gregarious Mammal” Podcast that American Express and Western Union are continuing to test out the capabilities of their remittance systems, xCurrent and xRapid.

Ripple has been one of the most controversial blockchain companies in the industry, impressing with its unrivaled business developments but drawing concerns with the centralized nature of its questionable cryptocurrency, XRP. One of the biggest doubts about the token XRP was the validity of its use-case within the financial industry.

Despite the numerous partnerships and announcements of piloting, companies have yet to voice confidence in the advantage of XRP and xRapid. Combined with legal uncertainty regarding the SEC’s categorization of XRP, the confidence of the public in Ripple and XRP has wavered.

It remains to be seen whether XRP will come to be used by traditional financial companies that Ripple Labs continues to partner with. Nevertheless, Thomas clarified that American Express and Wester Union are at least continuing to test the system, leaving the possibility open.

Read more about: Ripple (XRP)

Poll

Will XRP be used by banks & money transfer firms?

(27 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage