Ripple company has released the results of the first trial projects for XRP token and xRapid technology.
The company statement says that financial organizations that took part in the trials, managed to save 40-70% compared to their previous spending via services of traditional providers.
An average transaction time is slightly above two minutes, while the traditional wire transfer – 2-3 days. At the same time, XRP Ledger transactions take just 2-3 seconds, with the remaining time used for processing by the third-party, in particular exchanges and local payment systems.
XRP token is the top-3 coin in terms of the market capitalization at CoinMarketCap. Moreover, it is also an element of the massive initiative of the company that is aimed at transforming banking sector.
Many players in financial and blockchain segments leave in doubt the true value of XRP, but the company believes that the token will be used not only for speculations but also for values shift and releasing funds for other goals in different organizations.
“The exchange rates were very competitive, and the transaction times were unbelievable,” reported Forbes citing Alistair Constance, director of Mercury FX, which participated in one of the pilots. “It was lightning fast compared to using the correspondent banking network Swift,” he added.