Indeed, the blockchain startup has no lack of partners, from American Express to SEB, that use its xCurrent product, which allows financial institutions to send transactions in real-time without the innovative new crypto-asset. But it was only a little-known company (Mexico-based Cuallix) that had signed on to use Ripple’s xRapid to leverage XRP for liquidity.
Flash forward to today, however, and the narrative has seen a shift. In rapid-fire succession, three money transfer firms revealed they are piloting the use of XRP. First was remittance giant MoneyGram, then came Mercury FX (which conducts about $500 million in transaction volume per year) and finally telecom provider IDT.