Mercury FX, an international currency exchange provider, plans to open 10 new corridors that will use the xRapid solution. With this implementation, the company will be able to use the virtual currency XRP. The information was released by Alastair Constance, CEO of Ripple Regionals 2019 in London.
The company's CEO explained that they would use the xRapid solution to make payments from the UK to Canada. In addition, it will be possible to send and receive payments from the UK to the Middle East. There are other countries in the list, such as Mexico and the Philippines. According to him, up to the middle of the year there may be 10 corridors.
Constance explains that xRapid allows customers to see the benefits of blockchain technology. He stated that using xRapid and not Swift costs are lower. Thus, companies see the economy of how this service works.
Mercury FX has offices in London, Hong Kong, and also in Cape Town. The company specializes in foreign currency, international transfers and payments, as well as currency hedging.
Ripple is trying to enter the market by offering services to financial companies and banks from around the world. One of the latest products released is xRapid. With it, banks and companies can reduce transaction time and costs.
The xRapid product uses digital currency XRP to process these payments. XRP is the third largest digital asset on the market. Currently, it is trading at about $ 0.30, and its market capitalization is $ 12.5 billion. Over the past 24 hours, a digital asset has lost more than 8.6% of its value, following market trends. Most digital currencies are currently falling.
