The head of Binance Changpeng Zhao said that his bitcoin exchange would “definitely” work with Ripple to integrate xRapid payment solution using XRP tokens. It is reported by Cointelegraph.
According to Zhao, so far the companies have only begun negotiations, the details of cooperation are being specified. At the same time, the main efforts of the exchange are aimed at launching Binance Chain and the decentralized exchange.
We’re focused on launching more features right now, so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future we’ll definitely want to add them as a partner.
In the context of xRapid, Ripple has already established cooperation with Bittrex, Bitso, Coins.ph, and Bitstamp. Trading platforms interact with financial institutions that convert national currencies to XRP. Exchange users can send these tokens to other countries, and then exchange them back for fiat currencies. The whole process takes a few minutes.
Thus, xRapid allows international companies to make transfers without having to open accounts all over the world.