Ripple expands its horizon with 4 additional financial firms using xRapid

Ripple was among the best performers in the market last year. At some point, it embarked on a sole recovery journey that saw it almost double its value. Moreover, it displaced Ethereum (ETH) from the second position and became the world’s largest altcoin. In fact, at the time of writing, Ethereum has a market capitalization of $12.3 billion in comparison to XRP’s $13.2 billion.

The latest in relation to Ripple and XRP is that the company has announced that it will soon be expanding its services to 4 additional financial institutions. During an interview conducted by Fortune, the CEO of Ripple, Brad Garlinghouse said that banks and financial institution are ready to flip the switch and embrace XRP payment services.

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Moreover, Euro Exim bank, a new partner of Ripple recently announced that it will be rolling out cross-border remittance using xRapid in the first quarter of 2019.

“This is consistent with Ripple’s vision of XRP as a fast and inexpensive source of liquidity for cross-border transactions. Instead of banks having to maintain foreign bank accounts, the idea is for them to buy XRP with dollars or euros and rely on local market makers to exchange XRP into local currencies.”

Besides Exim bank, Ripple’s new partners include SendFriend, FTCS, JNFX, and TransPayGo. All these companies have expressed their commitment to utilizing XRP to improve their liquidity for international transfers.