Ripple’s highly anticipated xRapid blockchain product for cross-border settlements is close to launching, according to comments made to CNBC in a recent interview with a top Ripple executive.

In the interview, Ripple’s head of government and regulatory relations for Asia-Pacific and the Middle East, Sagar Sarbhai, said that he expects the launch of its cryptocurrency-focused commercial platform for near-instant, cross-border payments, called xRapid, to be ready “in the next month or so.”

"I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production,” explained Sarbhai, who added that the Ripple team has made steady progress in xRapid’s development, ensuring the blockchain-based, cross-border settlement platform is ready for real-world usage in the coming weeks.

Unlike xCurrent, Ripple’s currently deployed enterprise blockchain solution that allows banks and other financial institutions to send and receive cross-border payments using blockchain technology, xRapid utilizes the XRP cryptocurrency to lower liquidity costs in emerging markets.

Ripple says that the XRP cryptocurrency will be used as a “bridge” between currencies on its xRapid platform, speeding up transactions significantly. Ripple claims payments in XRP settle in as little as 4 seconds from start to finish, can “consistently handle” 1,500 per second, and can scale to handle “the same throughput as VISA” - a staggering 50,000 transactions per second.

Sarbhai added that over 120 banks and finance firms have partnered with Ripple to utilize its xCurrent platform for international transactions. The firm now hopes to see similar success across its xRapid platform. Ripple CEO Brad Garlinghouse said earlier in the year that he expects “dozens” of banks to use xRapid by the end of 2019.

Ripple is rumored to eventually combine its three main products - xRapid, xCurrent, and xVia - into one solution called Convergence, according to now deleted tweets from Ripple’s director of talent acquisition, Jim Chauncey-Kelly, who may have let the cat out of the bag early.