Ripple’s Swell Event in Full Swing, The Masterstroke & the Key Highlights

Ripple’s Swell has been kicked off by CEO Brad Garlinghouse and the launch of highly anticipated product xRapid. With people from Ripple’s partners and from regulatory space attending the event, good and progressive things are expected to come.

The MasterStroke: xRapid now commercially available

The highly anticipated Swell event of Ripple is going in full swing as it wraps up the first day. This event kicked off spectacularly as Ripple announced xRapid going into commercialization with three of its clients.

The official announcement of the commercial availability of xRapid stated:

“RippleNet is now providing on-demand liquidity to financial institutions for cross-border payments using the digital asset XRP. xRapid, the Ripple product powering these transactions, is commercially available and moving into production with multiple customers, including MercuryFX, Cuallix, and Catalyst Corporate Federal Credit Union.”

MercuryFX will be deploying xRapid in Europe to Mexico corridor. Cuallix that are focusing on the key remittance corridor from the U.S. to Mexico will use its financial services platforms Payllix and Cuallet, to provide a better customer experience for individuals and families sending money home. Lastly, Catalyst Corporate Federal Credit Union, that is a wholesale cooperative financial institution serving more than 1,400 member and client credit unions all across the United States, will be using xRapid on behalf of its members.

Also, read: Ripple Launches Another Product to Tackle Inefficiency and High Fees in Cross-Border Payments

Major highlights

Ripple CEO Brad Garlinghouse opened the ceremony and talked about the Internet of Money summarizing with,

“We’re only as good as our ability to solve our customers’ problems. And the work partners like MercuryFX, Cuallix, and Catalyst Corporate Federal Credit Union are doing with xRapid has demonstrated that we’re solving a real problem.”

This event has been to connect its customers together and this is where Santander came into the picture as its CEO Ed Metzger talked about its experience of working with Ripple.

Given the fact a number of big names from the regulatory space have been and will be present at this event, the attendees will reflect light on blockchain and crypto in general from authorities’ point of view.

The first day marked the launch of xRapid and now everyone is looking forward to the 2nd day for what it is going to present the Ripple and XRP community with.