The popularity of RippleNet products is increasing by leaps and bounds. Ripple has led us to believe that RippleNet products are much more effective than any other remittances methods. The question which remains is whether the market also thinks the same. With xRapid, Ripple (XRP) made the remittances even more efficient. We will today try to find out how effective the RippleNet products actually are.
How effective are RippleNet products when it comes to remittances?
The company recently conducted a pilot test using xRapid. The experience of the company has been much more positive. XRapid specifically offers banks and financial institutions the ability to manage their liquidity. At the same point in time, xRapid eliminates any delays in global payments. The cost of using the xRapid network to initiate and complete the payments is also on the lower side.
Caullix is only one such company which is trying out xRapid and using XRP tokens to initiate the transfers. Many other companies are doing the same. It is a clear testament to the fact that RippleNet products are much more effective as compared to the conventional remittances. All over the world, more and more companies are using RippleNet products to make their systems more efficient.
The Catch-22 situation for most of the companies is that if they do not use the RippleNet products, but their competitors do, they will ultimately lose market share. That is why the popularity of RippleNet products is growing by leaps and bounds. They are signing up newer and newer companies to use the RippleNet products on a consistent basis.
When the usage of xRapid increases, the demand for XRP token will increase as well, in such a case, it will be easier for investors to reap rich dividends. Thus, according to the companies who use the RippleNet products themselves, they are 1000% more effective as compared to the traditional methods used for international remittances.