XRP Love: Ripple Confirms ‘Global Expansion’ Plan for Crypto-Powered xRapid
Ripple can partner with cryptocurrency exchanges across the globe that are capable of accepting fiat currency from banks. It then converts fiat money into XRP and transmits it to the destination, where it is instantly converted back into fiat. Birla explained that the current cross-border payments system is legacy in nature as sending money from one country to another is a time-consuming process. But Ripple needs to ensure that it complies with the regulations of those countries where it plans to set up a payments corridor.Ripple has been busy striking partnerships with payments providers and crypto exchanges to get xRapid off the ground.American Express is one more marquee name that’s partnering with Ripple’s XRP-enabled real-time payments platform.