Ripple claims to be successful after promising results from the first pilot tests on the platforms money transfer your digital asset XRP as a medium of exchange. While large banks continue to shy away from using XRP as a reserve currency when you transfer money, it seems that Ripple has found a favorable place for making xRapid on the market of money transfers to 569 billion dollars.

IDT, MercuryFX, MoneyGram, Viamericas and Cuallix totally concentrated on xRapid and XRP, while the recent agreement with Fleetcor-owned B2B provider of international payments Global Payments Cambridge opened a new path for the digital asset – commercial payments.

According to the Ripple of the first pilot test led to a 40-70% saving on the exchange rate of FX for the participating platforms and accelerate the settlement of transactions, reducing the time spent on cross-border payments, with two to three days to several minutes. Transfer the XRP Ledger takes only 2-3 seconds considering the processing time when the transaction takes place through an intermediate digital exchanges and local payment services.

Paul Dwyer, co-founder and managing Director of Viamericas money transfer, initially cautious attitude to the potential of XRP and concerned about the impact of volatility in prices, after tests in the U.S. in the trade corridor with Mexico is more optimistic:

– It is clear that xRapid can reduce the cost of liquidity, increasing the speed and transparency of payment therefore, to ensure careful monitoring of compliance, he says. – We believe that digital assets like XRP will play a key role in the future of cross-border payments, helping to safely resolve some of the structural inefficiencies of the outdated infrastructure of the settlements as they are adopted. We look forward to exploring next steps with Ripple.

Note, at the time of writing the price per coin XRP is $ 0.8, and the rate of Ripple is still in the red zone.

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