Ripple’s xRapid posts record number of transactions in Q2 2019
- The number of xRapid transactions increased by 170% from Q1 to Q2 of 2019.
- Ripple also talked about the expansion of Xpring, its fundraising arm.
As per Ripple’s Q2 report, the number of xRapid transactions increased by 170% from Q1 to Q2 of 2019. The firm also reported a 30% increase in the number of live xRapid partners in the second quarter. Ripple stated:
“Ripple anticipates this momentum in transaction volume to continue as more partners and customers go live.”
Ripple currently has 20 customers using xRapid, who are transferring money between Mexico and the Philippines. Last month, Ripple partnered with money transfer giants, MoneyGram, who stated that they plan on using xRapid. Ripple also talked about the expansion of Xpring, its fundraising arm, which has invested half a billion dollars in boosting XRP and growing the blockchain ecosystem.
“This support is done in two ways:
1) helping innovative blockchain projects grow through partnership and investment;
2) building crypto infrastructure through contributions to open source crypto protocols such as the XRP Ledger and Interledger projects.In addition, Xpring is building a developer platform to support open source developers to leverage these protocols.”
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
