A few hours ago, Binance CEO Changpeng Jao was on his first live broadcast via Periscope. Within 45 minutes of live, he answered numerous questions about the future of Binance, Binance Coin (BNB), Binance Chain, the new decentralized exchange and much more.
During the live broadcast, they asked if Binance would become a Ripple partner to improve xRapid payments. His answer was:
“We are focused on launching a large number of functions, so we work with a number of other partners. With xRapid, nothing is happening right now, but in the future we will definitely want to add [Ripple] as partners. ”
At the time of this writing, Ripple has already collaborated with Bittrex, Bitso, and Coins.ph cryptocurrency exchanges to provide the necessary liquidity for xRapid payments between the three countries. These exchanges provide the ability to convert Fiat to XRP on xRapid and vice versa, which makes cross-border transactions more efficient in terms of cost and speed.
This Binance solution makes international money transfers more efficient. If we consider the scope of Binance around the world, we can get a clear idea of how massive the partnership will be.
RippleNet members may be motivated to use xRapid based solely on the good reputation of Binance. The exchange has a good reputation for providing online security, excellent services and innovations on all of its trading and launch platforms.