Ripple predicts big things for xRapid platform

“I’ve publicly stated that by the end of this year I have every confidence that major banks will use XRapid as a liquidity tool,” says Ripple CEO Brad Garlinghouse in an interview with CNBC. “By the end of next year, I would certainly hope that we would see in the order of dozens.”

Western Union and Moneygram are already testing xRapid for money transfers, although neither of them have yet committed fully. Ripple is currently working on a solution that enables faster and lower-cost international currency transactions between banks, including blockchain-based xCurrent, which is already being used by various financial institutions, including Santander.