Ripple (XRP) News Today: Brad Garlinghouse Says that Ripple is Going to Become Number One Before the End of Year 2019
As per Ripple CEO, Brad Garlinghouse, ripple will soon become number one for international payment settlements across the borders. As currently SWIFT is the major player for instant settlement that is used by majority of industries, its performance has always been questioned. Ripple has attracted attention over the period as most of the banking experts believe that this is the most suitable technology for instant settlement and global money remittance.
Ripple’s xRapid Project and Adoption by Banks
When it comes with international payments everybody want it to be cost-effective, transparent, faster and secure. xRapid is the project that Ripple is working on. It has proposed a solution that will make international cross-border payments easy.
How xRapid works?
xRapid first takes the input of third party transactions and then convert the money into XRP. Then the corresponding XRP is sent to the payout bank which is finally credited to the target bank accounts of the beneficiaries.
Image Source: ripple.com