Covid-19 Impact on Banks, And fixes. The Black Swan Opportunity

Download Now

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

IBS Journal: The iconic monthly FinTech magazine

May 2020 issue out now! Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Bittrex becomes new exchange partner for xRapid

Bittrex will act as the preferred digital asset exchange for Ripple’s xRapid transactions in USD.

In addition, Bitso and Coins.ph will be preferred for Mexican Pesos and Philippine Pesos, respectively.

“Bittrex is one of the biggest names in digital asset trading in the U.S. The same goes for Bitso in Mexico and Coins.ph in the Philippines. That makes today’s announcement an important development for xRapid,” said Cory Johnson, Chief Market Strategist at Ripple.

“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.”

“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 10M+ overseas filipino workers”, says Ron Hose, CEO of South East Asia’s e-wallet and financial services company, Coins.ph.

In May, Ripple announced that financial institutions piloting xRapid saved 40-70% 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.

Related IBS Intelligence Research

Related Posts