Up until December 2017, just one company, Cuallix, a Mexican Company involved in financial services, had partnered with Ripple to use their xRapid XRP for money transfers.
Inevitably this lack of a true customer base was causing some scepticism.
However, XRP has, since the start of 2018, been gaining some real momentum, against a backcloth of depressed crypto markets largely caused by the threat of regulation and the challenges investors face in actually buying into many of the alt coins..
It was recently announced that Moneygram will test out Ripple’s xRapid XRP service for its claimed speed and cost efficiency and we have just heard that two more companies Telecom provider IDT and international payments service group Mercury have announced that they too will pilot Ripple’s xRapid XRP for money transfers.
“Payment providers like IDT Corporation and MercuryFX are early movers because they understand what XRP can do for their business and customer experience,” Ripple CEO Brad Garlinghouse said of the announcements. “We’re excited to have them at the forefront of the Internet of Value.”
One swallow doesn’t make a summer but this is definitely a step in the right direction for Ripple’s xRapid XRP.