Ripple (available on Binance) (XRP) has just announced that it has signed three major partnerships for xRapid, its product geared towards financial institutions. These Ripple (available on Binance) xRapid partnerships will allow the XRP token to be exchanged to and from another currency efficiently.

Announced today: Bittrex is the U.S. preferred digital asset exchange for xRapid transactions using #XRP. https://t.co/jqtYG3OeX4
— Bittrex (@BittrexExchange) August 16, 2018

Bittrex & Ripple (available on Binance) xRapid Partnerships

The popular US-based cryptocurrency exchange Bittrex has just become the ‘preferred’ crypto exchange for xRapid transactions that move through the US Dollar.

“Bittrex is one of the biggest names in digital asset trading in the U.S,” said Cory Johnson, Chief Market Strategist at Ripple (available on Binance).

Ripple (available on Binance) has also signed partnerships with Bitso, for the Mexican Pesos, and Coins.ph, for the Philippine Pesos. In order for Ripple (available on Binance)’s xRapid product to be successful, it must have a ‘healthy’ ecosystem of digital exchange partners; this is exactly what Ripple (available on Binance) has established with these three partnerships.

“We are excited to be partnering with Ripple (available on Binance) to bring the benefits of blockchain technology to cross-border payments, making sending money home more affordable for 10M+ overseas filipino workers,” says Ron Hose, CEO of Southeast Asia’s e-wallet and financial services company Coins.ph.

Bittrex Making Moves

Last week Bittrex announced that it would be launching USD (fiat) markets for XRP, a key indicator that the exchange was making moves behind the scenes.

Get ready – we’re adding more US dollar (USD) markets on @BittrexExchange. On August 20, we’re launching USD (fiat) markets for ETC & XRP. https://t.co/UVlW4g2B1h
— Bittrex (@BittrexExchange) August 8, 2018

Bittrex is competing in the newly competitive US crypto exchange market. Coinbase has started expanding the coins on its platform and added Ethereum (available on Coinbase) Classic just yesterday. Many of the other major cryptocurrency exchanges have all begun making plans to launch US versions of their platform in the near future.