Bad news for XRP holders: Companies using xRapid and XRP range from small to miniature

Things are looking great for Ripple. By Ripple, I mean Ripple Labs, the company formerly known as OpenCoin that created a modern-day SWIFT challenger, a network that has good chances of out-competing the dinosaur network created more than 50 years ago.

However, as great as the times are for the Ripple company, there is little benefit the XRP holders will get from this. Ripple executives are often contradictory in their statements on the matter of importance XRP has in their network:

Of the 200 partnerships Ripple has, ONLY eight actually use XRP the cryptocurrency.

ZipRemit is “Using #xrp from @Ripple is revolutionizing the way our entire business operates. For years our team parked huge amounts of capital globally to deliver the services our clients expected. Now we can move money like information, that’s game changing”. The company is registered way back, in 2015, a real financial behemoth. This a minuscule startup, with almost no search popularity before deciding to use XRP. This was probably a publicity stunt by the company, which is a good marketing move.

Cuallix is one of the first companies to use xRapid and XRP. However, it is hard to find much about them on the internet – they also seem to be a rather obscure bank with no significance in the financial circles.

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SBI is the biggest xRapid and XRP user and has tight connections to the overall Ripple project as one of the bigger investors in the Ripple company. This company is the only xRapid customer worth mentioning that would not cause a snickering and scorn among serious financial players.

JNFX is not a bank, it is a foreign currency broker, “specialists in non-speculative trading”. So, a forex broker, that is “huge”.

SendFriend is essentially an app for Philipino expats to send money back home. So, again, not a bank but a small startup.

Similar to SendFriend, the third customer of xRapid is another startup called TranspayGo with “massive” 7800 transactions per month.

FCTS is a scandinavian startup, a e-money and prepaid issuer based in Stockholm. So, another not a bank.

And finally a bank – Euro Exim Bank, a 7 years old bank headquartered and licensed in St Lucia and with a representative office in London that specializes in providing financial services to small and medium-sized enterprises (SMEs), regardless of where in the world they are located.

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This means that the headlines showcasing Ripple’s partnerships with more and more banks are good — Ripple the company is succeeding — but also don’t mean much for XRP gaining adoption.

Now this isn’t to say that banks will never adopt xRapid (and start using XRP). In fact, this has been a part of the Ripple business plan from the very beginning. Get banks using xCurrent and then cross-sell them into xRapid. Banks may come to love xRapid.

Or they might not.


Ripple itself sees its payment system as the future global standard for interbank payments, enabling cost-effective and traceable payments in real time. In 2018, the National Bank of Kuwait followed partners such as the Japanese bank Mitsubishi UFJ Financial Group and the Malaysian CIMB Group Holdings Bhd into RippleNet.

What XRP wallets are most trusted and used?

Which applications from the Ripple product range are to be used, however, left both sides open. It is also questionable whether Ripple’s xRapid platform or the XRP token will play a role in the bank’s concept in the future.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of

Julian Joseph Lehmann
  1. FUD as usual. Your making an assumption 1) on old news and a time slice from what a year ago? 2)Nathaniel popper who is he?? you just pick anyone with a negative statement much a less a statement out of context? what are his credentials to be a reputable source?

  2. I would like to say yes this is all true but large us banks are being held up by us regulatory clarity I think once we get that you’ll see much larger us banks using xrapid xrp and other world wide banks to follow

  3. Idiotic article

  4. Wow, you aren’t heavily invested in coins other than XRP are you? You are going back to articles and posts that are more than a year old…why don’t you start calling the 200+ banks and FI partners to get a real story instead of relying on rehashed crap from that loser Nathaniel Popper.

  5. Do you know anything about business or product development? Ripple labs are years ahead of anyone else in their field and at an accelerating rate winning customers as their products prove themselves. The smaller companies would likely be the first companies to adopt due to corporate structure and ability to make changes quickly adapting to the market. Once larger financial institutions start losing business and ripples product are proven – which they have been – these banks will adopt out of necessity but they are still slow moving beasts. As a customer, I’m fed up with paying a $50 transfer fee to a bank so every Tom, Dick, and Harry can sit behind the water cooler and take 2-3 days to get my money moved and occasionally lose track of it. Your next article should be on Nostro/Vostro accounts and global liquidity but that would be a waste of another 3 minutes of my life.

  6. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. May God have mercy on your soul.

    • Reply
      Julian Joseph Lehmann January 14, 2019 at 13:47

      You can tell me with a straight face that your sentence is coherent? Unpleasant truths hurt, but I trust you will survive and learn something out of your bad investment.

  7. Article by a 18 year old kid. Why don’t you go get layed 1st.

    • Reply
      Julian Joseph Lehmann January 14, 2019 at 13:49

      Unpleasant truths hurt, but I trust you will survive and learn something out of your bad investment.

  8. What, I’m gonna give any credence to the author that sports a tin tin haircut? Obviously you don’t have any foresight to see that larger banks are waiting for the much smaller, nimbler banks to either fail or succeed with the technology before risking it. Stick to writing about coins that are more suitable to your IQ – BunnyCoin is a good candidate.

  9. Ripple CEO Brad Garlinghouse Says Banks Are Poised to ‘Flip the Switch’ on XRP

  10. SWIFT created its own blockchain news to Ripple Labs and fans. Ripple Lab’s XRP node client “rippled” is open source. xCurrent;xRapid;xVia are proprietary licensed closed-source offerings. Given the above facts SWIFT could of copied or innovated the features from Ripple Labs offerings. Innovating on xCurrent;xRapid;xVia concepts instead of copying them is legal. If this is the case then why would SWIFT need Ripple Labs, XRP or any of its proprietary closed-source offerings?

  11. Never argue with or condemn your comment section. It’s unprofessional.

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