Ripple and its digital asset XRP have been making waves these days especially since Ripple’s Swell 2018 conference took place a couple of days ago when a lot has been discussed by very significant names.
Crypto.com has officially added XRP to its wallet and card payment app.
The company used to be known as Monaco, and it’s currently working to launch Visa credit and debit cards that will allow users to spend crypto in all locations where Visa is accepted.
TransferGo announced massive cost savings
Besides this, during the Swell event, the payment company TransferGo unveiled a massive remittance cost savings thanks to Ripple’s blockchain-based payment solutions mostly.
According to the company’s CEO Daumantas Dvilinskas, they have been able to lower costs by up to 90% in some areas while also reducing settlement times to under 30 seconds.
More than that, TransferGo is also leveraging Ripple’s xCurrent in order to boost transactions from Europe to India.
“We just launched our first xCurrent transactions from everywhere in Europe to India through a partnership with Access Bank. Ripple helped us build and manage this relationship,” he said.
According to him, since the Access Bank partnership, TransferGo has seen a 315% growth in a single month.
While trying to increase its user base from 1 million to 100 million, TransferGo revealed that it’s making cross-border payments entirely free for customers all over the world as well.
Ripple’s xRapid is live
In xRapid lies Ripple’s hope to solve the issues within the conventional cross-border payments systems which are costly and need longer time to complete.
Using xRapid, international transactions can be handled in a matter of minutes, instead of at least 2-3 business days.
Ripple’s xRapid uses XRP, and everyone hopes that this can trigger enhanced adoption. As a result, this might eventually skyrocket Ripple’s token’s value against the USD even further.