XRP powered xRapid partner Mercury fx elucidates on capital moved between US and Mexico

Mercury fx, an xRapid user and one of Ripple’s foremost partners recently stated that the technology has been used successfully which enabled the company to move massive amounts of capital. The organization stated:

“We’ve made our largest payments across RippleNet using #XRP – 86,633.00 pesos (£3,521.67) from the U.K. to Mexico in seconds.”

Mercury fx was not the only company enjoying the benefits of xRapid, with UK based Mustard Foods stating that they saved 79.17 pounds and 31 hours on the transaction. James Durant, the Commercial Director of Mustard Foods said:

“As a food production company supplying 500+ restaurants in the UK & Europe, we pay suppliers around the world to get quality ingredients for our customers. Faster, cheaper payments allow us to fulfill orders quickly and grow our business.”

Mercury fx’s partnership was first announced during Ripple’s Swell conference back in October 2018. Brad Garlinghouse, the Chief Executive Officer of Ripple had banked on the company’s implementation of the Internet of Value and had said:

“The internet of value is something that a lot of people don’t understand and that is Ripple’s biggest bet. One of our main goals has always been to become builders rather than the ‘disruptors’ that is talked about a lot in Silicon Valley. Being coined a disruptor is somewhat of a catnip to investors but in Ripple’s opinion we don’t always need disruption in the industry.”

xRapid’s application spectrum has been accepted by a lot of different companies with the main aim of Mercury fx being making cross border transactions simpler and faster. Alastair Constance, the founder of Mercury fx had been active during the pilot test of xRapdid. In his words:

“Mercury is delighted with the incredible speed and cost-efficiency of the xRapid pilot phase and is excited about a production rollout in the near future. To date, the Ripple collaboration has been a great success.”

Ripple started 2019 on a positive note by announcing partnerships with over 200 companies. This update came in the wake of 13 new financial institutions partnering with Ripple. During the announcement, Ripple’s official blog said:

“JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank will leverage the digital asset XRP to source liquidity on-demand when sending payments on behalf of their customers.