Ripple XRP has been outperforming the top coins lately reaching a market cap of 22B. The price of Ripple has nearly doubled in the past few days and is gaining the attention of investors everywhere.
The upward move was mainly caused by an announcement of a new product called xRapid. An executive at Ripple told the public this week that Ripple XRP was making headway with xRapid, a new product which is aimed at helping banks enhance the speed of transactions by using the cryptocurrency Ripple XRP. xRapid is set to launch in mid-October according to Ripple.
Ripple explains its xRapid product as using the cryptocurrency, XRP as bridge between fiat currencies, which allows banks and payment providers to speed up the process of cross-border transactions.
Ripple has already struck deals with a number of well known financial institutions, including Santander Bank and American Express just to name a few. However, those partnerships are for another product offered by Ripple called xCurrent. According to Ripple more than 120 banks are currently partnered with xCurrent which is a blockchain-based product including Money Gram and Western Union.
Bitcoin is also starting to get accepted as a form of payment by high profile companies. Earlier this year Expedia announced a partnership with Coinbase which allows Expedia customers to pay for travel using bitcoin. Few other companies who accept bitcoin include Bitplaza , Overstock .
The upward move was mainly caused by an announcement of a new product called xRapid. An executive at Ripple told the public this week that Ripple XRP was making headway with xRapid, a new product which is aimed at helping banks enhance the speed of transactions by using the cryptocurrency Ripple XRP. xRapid is set to launch in mid-October according to Ripple.
Ripple explains its xRapid product as using the cryptocurrency, XRP as bridge between fiat currencies, which allows banks and payment providers to speed up the process of cross-border transactions.
Ripple has already struck deals with a number of well known financial institutions, including Santander Bank and American Express just to name a few. However, those partnerships are for another product offered by Ripple called xCurrent. According to Ripple more than 120 banks are currently partnered with xCurrent which is a blockchain-based product including Money Gram and Western Union.
Bitcoin is also starting to get accepted as a form of payment by high profile companies. Earlier this year Expedia announced a partnership with Coinbase which allows Expedia customers to pay for travel using bitcoin. Few other companies who accept bitcoin include Bitplaza , Overstock .