Market Overview

xRapid Brings on Three New Exchange Partners


Ripple's cross border payments product that minimizes
liquidity costs
, is powered by the superior speed, low transaction
cost and scalability of the digital asset XRP.
But for xRapid to be most successful, there needs to be a healthy
ecosystem of digital asset exchange partners around the world. These
exchanges allow xRapid payments to move from one currency - into XRP -
and back into another currency quickly and efficiently.

Today, we're pleased to announce Bittrex will act as the preferred
digital asset exchange for xRapid transactions that move through U.S.
Dollars. In addition, Bitso and will be preferred for Mexican
Pesos and Philippine Pesos, respectively.

Here's what an xRapid payment flow will look like from the U.S. to

1. A financial institution, that has an account with Bittrex, initiates
a payment in U.S. dollars via xRapid which is instantly converted into
XRP on Bittrex.
2. The payment amount in XRP is settled over the
XRP Ledger.
3. Bitso - through its Mexican Peso liquidity pool -
instantly converts the XRP into fiat, which is then settled into a
destination bank account.

"Bittrex is one of the biggest names in digital asset trading in the
U.S. The same goes for Bitso in Mexico and in the Philippines.
That makes today's announcement an important development for xRapid,"
said Cory Johnson, Chief Market Strategist at Ripple. "We've seen
several successful xRapid pilots already, and as we move the product
from beta to production later this year, these exchange partners will
allow us to provide financial institutions with the comfort and
assurance that their payments will move seamlessly between different

"We are excited to be partnering with Ripple to bring the benefits of
blockchain technology to cross-border payments, making sending money
home more affordable for 10M+ overseas filipino workers," says Ron Hose,
CEO of South East Asia's e-wallet and financial services company,

In May, Ripple announced that financial
institutions piloting xRapid saved 40-70% on average
compared to
traditional foreign exchange brokers who facilitate cross-border
payments. The payments also settled in two minutes or less compared to
two to three days from traditional methods.

For more information on Ripple's solutions or to learn more about
becoming an xRapid partner contact

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