A lot of companies and startups have found the network – RippleNet, very useful, and Ripple currently has a very long list of firms that are using its network. The current number of firms using the network is about 120, including Santander, Mizuho Financial Group, Credit Agricole, and Bank of America.
A whole lot of firms are also transferring Ripple (XRP) as part of the model of their business. But how many firms are actually using xRapid – the real-time settlement platform of the company that uses XRP to offer on-demand liquidity?
The Number of Companies Using the xRapid of Ripple
Here is a breakdown of the ten firms that are confirmed to be testing xRapid or have fully implemented it.
Companies testing xRapid
- Currencies Direct
- Mercury FX
- Cambridge Global Payments
- Western Union
Here are companies that are utilizing xRapid
- SBI Virtual Currencies
- Zip Remit
In the coming months, more companies will start using the xRapid of Ripple, and a more complete picture of those companies will be available soon. Brad Garlinghouse – the CEO of Ripple, said that he believes a lot of top players in the financial industry will use the XRP of Ripple powered by xRapid technology by next year.
The technology has proven itself to be very useful as it offers a better payment solution. This is why it is being adopted by a lot of companies, and more are yet to join the trend. Nevertheless, a new report from Reuters tagged “Banks unlikely to process payments with blockchain technology for now, says Ripple” might call that into question.
Ripple Price Today: Current Price of XRP
At the time of writing, Ripple (XRP) is trading at 48 cents after a decrease of 1 percent in the last twenty-four hours. The digital currency has a market cap of $20.14 billion with a trading volume of $224.78 million in the last twenty-four hours.