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Ripple : Please explain: how will XRP be used in xRapid EXACTLY?

Ripple update: Please explain: how will XRP be used in xRapid EXACTLY?


If I am Bank 1 and you are Bank 2, and we want to transfer dollar/euro billions via xRapid. How exactly does it work and how is XRP used for that?

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Bank 1 has to purchase XRP, transfers XRP to Bank 2 and how does Bank 2 get euro or dollar out of these XRP?

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Please explain for a 2 years old, thanks!




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About Ripple (XRP)



Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.

Author: holodef

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