Ripple signs three new xRapid exchange partners

Ripple has signed collaboration deals with three new digital asset exchange partners for xRapid – the company’s cross-border payments product.

xRapid is reliant on a healthy ecosystem of global digital asset exchange partners, enabling payments to move between currencies and XRP quickly and efficiently.

The new deals include Bittrex, which will now be the preferred digital asset exchange for transactions that move through US dollars, as well as Bitso and Coins.ph, which will be the preferred exchanges for Mexican Pesos and Philippine Pesos respectively.

Cory Johnson, chief market strategist at Ripple, commented: “We’ve seen several successful xRapid pilots already, and as we move the product from beta to production later this year, these exchange partners will allow us to provide financial institutions with the comfort and assurance that their payments will move seamlessly between different currencies.”

Ron Hose, Coins.ph. chief executive, said: “We are excited to be partnering with Ripple to bring the benefits of blockchain technology to cross-border payments, making sending money home more affordable for 10 million+ overseas filipino workers.”

In May, Ripple announced that financial institutions piloting xRapid saved 40-70 per cent on average compared to traditional foreign exchange brokers who facilitate cross-border payments. The payments also settled in two minutes or less compared to two to three days from traditional methods.

    Share Story:

Recent Stories


The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.