Ripple Could Launch xRapid Solution 'In the Next Month or So,' Says Exec

Ripple could launch a commercial version of its payment platform xRapid "In the next month or so," CNBC reported September 17.

Head of regulatory relations for Asia-Pacific and the Middle East at Ripple Sagar Sarbhai told CNBC that Ripple has been making strides toward the launch of its product xRapid.

The xRapid product is a real-time settlement platform designed to speed up international payments.

Built for commercial use and backed by XRP tokens, xRapid addresses the issue of minimizing liquidity costs and making cross-border payment transactions faster.

xRapid claims to significantly reduce the capital requirements for liquidity.

Sarbhai said in an interview with CNBC:."I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production."

Ph - as part of an xRapid solution to build a "Healthy" ecosystem of digital asset exchanges.

The new partnership will enable xRapid to move between XRP, U.S. dollars, Mexican pesos, and Philippine pesos.

This spring, various financial institutions participated in a pilot of the xRapid platform, which tested payments between the U.S. and Mexico.

The participants reported transaction savings of 40-70 percent.