Remittance Company SendFriend is Live with xRapid, Launching in New Jersey with Texas Next

  • SendFriend has partnered with xRapid for faster payments between the US and the Philippines.
  • Presently, the launch is only available in New Jersey, though SendFriend plans to offer this option in Texas soon.

Ripple’s xRapid platform is powered by XRP, providing a network for companies that want to offer fast and cost-efficient cross-border transactions for their customers. One of the latest companies to join the team is SendFriend, a next-gen remittance company, and Daily Hodl announced that the company is now live with xRapid, following a tweet from SendFriend.

SendFriend told followers about their launch on Sunday in New Jersey, paving the way for Filipino workers overseas to send funds back to their families. This could mean a lot of revenue and activity for SendFriend, considering that there is $11 billion sent from the US to the Philippines each year.

XRP is presently the third-largest cryptocurrency in the world, based on market cap, and it is being used as the liquidity vehicle for these international payments. In doing so, SendFriend is able to get around the corresponding banking system, effortlessly converting USD to XRP, and then XRP to PHP, in a matter of seconds. Typically, without the support of xRapid, this type of transaction could take several days, and that time makes a difference.

SendFriend has stated that the platform gets rid of the high banking fees associated with these types of transfers, boasting 65% lower than the industry average. Even though the company plans to roll out these services in Texas as well, no date has been revealed, apart from their efforts to “open it up as soon as possible.”

There is a promotion going on for the month of June that covers SendFriend transactions for up to $10 for users.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide