Mercury FX Intends To Use Ripple’s xRapid

Mercury FX, an international payment service provider, has announced an expansion of cooperation with Ripple.

As part of the partnership, by the middle of this year, Mercury FX plans to open 10 new payment corridors based on xRapid, which uses XRP. As the head of the company Alastair Constance noted, this approach will provide quick and cheap transfers from the UK to Canada and the middle East. The new solution will cover other countries, including Mexico and the Philippines.

Constance also noted that xRapid would show users the benefits of distributed ledger.

Mercury FX was founded in 2007. Its offices are located in London, Hong Kong and Cape town. Specializing in cross-border payments and foreign exchange transactions, Mercury FX has positioned itself as an alternative to banks.
Recall, the American financial holding JPMorgan has developed its own stablecoin called JPM Coin. Some representatives of the crypto community expressed the opinion that the new “stable coin” was a direct threat to Ripple’s business model.