In the recent Ask Me Anything session of Ripple, CEO Brad Garlinghouse answered several questions that met the interests of the XRP community. Here, the CEO was also asked about the volume levels of xRapid and what can be expected in the future. To this, Garlinghouse briefed the community on the contracts that have been signed by xRapid with a number of players.
He began by stating that the company announced three production contracts of the customers already using xRapid. One of the customers were mentioned to be Catalyst, which is an aggregator of 1,400 bank credit unions. About two months ago, the news of Catalyst Corporate Federal Credit Union came out wherein the group was looking into the technology of Ripple. Here, they had said:
“We’re making waves with @Ripple! See how #blockchain may provide #CreditUnions with faster cross-border payments at much lower costs.”
In reference to this, Garlinghouse propagated that by using xRapid, the banks would be able to source liquidity into the Mexican pesos.
Regarding the signals that would hint xRapid’s activity, the Ripple executive shared that the company has publicly shared four different digital asset exchanges with xRapid: Bitstamp, Bittrex, Coins.ph and Bitso.
Garlinghouse also reminded the community that it is still the early days in the progress of Ripple and XRP. He added that bringing significant changes to how banking and financial institutions manage their liquidity is going to be a marathon. Furthermore, in that marathon, Ripple is way ahead of the competition, opined the CEO.
He rested his case by stating that he is thrilled for the journey wherein the community has a long way to go. He also advised that exchanges are a great platform to look for signals of xRapid volume and activity. In his words:
“I’m thrilled by the same token, we have a long way to go. And if people want to look for signals, those are exchanges you can look at. We certainly will partner with other exchanges and I expect some of those will announce publicly.”