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Currencies Direct has successfully tested xRapid technology from Ripple

With the help of xRapid, the financial institution directly connects to exchanges in the country of the sender and the recipient.

30.May.18 10:41 PM
By John M Jeffcoat


Currencies Direct has successfully tested xRapid technology from Ripple
It became known for the successful carrying out of transnational test transactions through the xRapid platform, using the Ripple (XRP) cryptocurrency. The British company Currencies Direct successfully transacted tranches directly between pre-selected companies for the test.

According to eyewitnesses, the operation time was only a few seconds, for comparison, earlier such operations took from 3 to 5 days, which again, now technically, proved that the Ripple (XRP) protocols currently have significantly higher speed than traditional payment systems.

The transparency of transactions is high, and through xRapid, a financial institution without any intermediaries can connect to the trading platforms of both parties to the transaction. The payer's funds are converted to XRP, and then exchanged for the currency of the payee, and all this is done in a matter of seconds.

Accordingly, the new technology significantly reduces operational costs, shortens the time of payment, and also makes it more secure, as the interethnic payment passes quickly and directly.

It is worth recalling that the advanced development of Ripple is increasingly beginning to use various companies, for example, the conductor of mobile payments - Uphold recently integrated them into its system.

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