Ripple’s SVP of Product Shares Customer Response to xRapid and What’s Next for Ripple

Ripple’s YouTube channel often features interviews, Ask Me Anything (AMAs), and presentations from various members of the Ripple team. The YouTube channel also features a series of short episodes called Ripple Drop.

In one of their latest episodes, Asheesh Birla, Ripple’s SVP of Product, spoke about their customer feedback on xRapid and shared insights on the company’s outlook for 2019.

Birla spoke about Ripple’s accomplishments with regards to their products including xCurrent, xRapid, and xVia. He explained that 2018 was a big year for Ripple and they accomplished a lot, especially in getting all of their blockchain products to work better with each other.

Their biggest achievement was the integration of xCurrent and xRapid, which allowed the 2 Ripple products to work together. He also proclaimed that getting xVia live was another giant accomplishment, stating that xVia has gained a lot of traction over the last 2 quarters and is also compatible with xRapid.

The Importance of xRapid

In the interview, Birla emphasized the importance of xRapid and its integration with xCurrent and xVia. He explained that Ripple has been pushing for the adoption of xCurrent in the market for over 3 years, and they have now made it work with xRapid.

This achievement can’t be understated as customers using xCurrent will now be able to use xRapid more easily.

Furthermore, 2018 saw xRapid go live in Mexico and the Philippines. This achievement is very beneficial to xCurrent customers sending payments to those countries because they can use XRP as a source of liquidity.

Explaining in more detail, Birla said:

We made [xCurrent] work with xRapid, and why that’s such a big deal is because you don’t need to have the expensive capital tied up in Mexico. You can use xRapid for on-demand liquidity instantly, sourcing liquidity, delivering your payment into Mexico.

Following the statements above, Birla went on to explain the feedback Ripple has received from their customers.

According to Birla, customers are demanding for a lot more places/destinations to be compatible with Ripple’s blockchain technology. He added that Ripple customers want xCurrent to be deployed more so that they can get the reach into some of the most difficult places to send payments.

Birla emphasized that customers want a faster on-boarding experience:

And what that means is that they want to be able to go and light up new corridors faster with xRapid because they know, as soon as that product is in their flows they can not only save money but offer their customers a better experience because of the speed and cost savings with xRapid.

What’s in Store for Ripple in 2019

To end the interview, Ripple’s SVP of Product shared insights on what 2019 has in store for Ripple and its products.

The team at Ripple wants to increase xRapid adoption by bringing it into more corridors that have the required regulatory clarity, and into corridors that solve a big pain point for their customers.

There will also be an ongoing push of xCurrent into more destinations so that customers can send payments on a grander scale throughout the world.

All in all, Ripple had a great 2018 and is set to have an even greater 2019. The company just recently surpassed the 200 customer milestone with the addition of 13 well-known financial institutions, and there are many more customers to be added in 2019.