Ripple XRP and TransferGo Agree to Use xRAPID for Cross-Border Payments
Ripple agreed to use xRapid for XRP and TransferGo cross-border payments. Ripple continues to implement an aggressive marketing policy for the expansion of xRapid technology.
Ripple and TransferGo Deal on Xrapid Use in Border Payments
New companies that see the advantages of the system every day are using this technology. On Monday, the other 3 big companies, MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union, have started to use this service. You can read our news at the link below.
Ripple Launches XRapid Usage
For those who know the advantages of xRapid technology, this development is not surprising. Although Ripple is not considered to be a complete crypto money, Blockchain technology is a technology that can make very positive contributions to the finance industry. It is now widely acknowledged by everyone that it provides tremendous ease and speed in international financial payments.
TransferGo CEO Daumantas Dvilinskas announced that they will start using xRapid technology during the 2018 Swell Conference organized by Ripple. The aim of the company is to make real-time payments as fast as possible worldwide. The company is looking for the technology required for this, Ripple has chosen the xRapid service.
Dvilinskas in the statement, TransferGo FREE Service for all users all over the world at the same time will be put into service to the good news.
The most important issue of the companies serving in this field has been long time to resolve the problems in global payments. Without a serious development and innovation effort in this area, companies continued to use high transfer fees and late transactions. TransferGo is not satisfied with the current system and situation and is trying to change it.
With the use of xRapid technology, it is aimed to significantly reduce the transfer fee in the regions where there is active money transfers. Even before the launch of this service, TransferGo had succeeded in reducing transaction fees by 90% in many regions. The processing time had fallen below 30 seconds. However, the company is not satisfied with these speeds and fees, using xRapid technology to increase both speed and also aims to reduce fees.
One of the things to be really curious about is the following: With the TransferGo FREE service, the company plans to make international payments without any charge. In this case, how they will generate income is not known at the moment. If the company is successful in its plans, it is said that this sector will be affected much more in the future.
Another important point is that the agreement they use for xRAPID in the Ripple XRP and TransferGo cross-border payments is an indication that the advantages of xRapid technology are increasingly being understood by the company and are beginning to dominate the market.