Ripple might launch its xRapid platform in October, according to Sagar Sarbhai, who leads Ripple’s regulatory relations for Asia-Pacific and the Middle East. Sarbhai told CNBC that he was confident the platform would go live “in the next month or so.” xRapid, a product that is meant to help banks speed up transactions with the help of XRP, has been the subject of multiple partnerships between Ripple and several reputable financial firms, but no institution has started to use it yet.
Sarbhai revealed that over 120 banks are now using Ripple’s other product – xCurrent, which settles cross-border payments.
Speaking about xRapid though, he said:
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