The XRapid payment network will settle cross-border payments settlements between different banks using the XRP token. In June, CTO David Schwartz said that Ripple was “not a distributed ledger,” while last month appearing to U-turn on the concept, claiming XRP was “more decentralized” than both Bitcoin and Ethereum. CEO Brad Garlinghouse is confident that major banks will use xRapid as a liquidity tool by the end of this year.