Ripple's xRapid to go live "in the next month or so"

17 Sep, 2018
by David Robb
Ripple's xRapid to go live in the next month or so

Ripple's new xRapid product could start live testing sooner than expected, according to a company executive. Sagar Sarbhai, head of regulatory relations for Asia-Pacific and the Middle East at Ripple, told CNBC that the cross-border payment system could be live in under two months.

Discussing the new XRP-based innovation, Sarbhai said that he was "very confident that in the next one month or so you will see some good news coming in where we launch the product live in production".

While Ripple's xCurrent blockchain payment systems have been regularly implemented by banks for many years now, the reluctance of banks to get involved with cryptocurrencies has caused the adoption of the crypto-based xRapid to be a little slower. American Express and Western Union, for example, have both struck deals to use xRapid but haven't started testing yet.

Read more: Ripple CTO confirms continued AmEx and WU piloting of xRapid

Sarbhai believes that in the last year or so this situation has started to improve, giving the example of Thailand as a country with more progressive crypto regulations that are encouraging adoption.

xRapid is a system that uses XRP as a kind of bridge between payment providers and banks, enabling faster cross-border payments.

Read more: xRapid announces partnership with three new exchanges, including Bittrex

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