International currency exchange provider, Mercury FX, plans to open 10 new payment corridors to support XRP.
As announced by Alastair Constance, CEO of Mercury FX at the Ripple Regionals in London 2019, the 10 new corridors would use the xRapid implementation solution to power payments from the UK to Canada, and also from the UK to the Middle East. The CEO explained that there could be up to 10 different payment pathways at around Q2 timeframe this year.
Constance commented on how xRapid will show customers the benefits of blockchain tech:
“I think from a customer point of view, you almost don’t want to show them too much of the technology or explain too much of why it’s working as it is. I don’t understand how a car works, but if it parks for me that would be even better. And I think it’s the same kind of thing. But what they are seeing is payments arriving in one-hundredth of the time and they’re paying a lot less, if anything, for i. And I think that’s the key.”
Ripple has been trying to break into the market by offering services to banks from various parts of the world. In an effort to reach this market they have released xRapid. The release of xRapid is to provide the tools for companies and banks to reduce transaction times and costs drastically.