With xRapid and XRP, financial institutions can eliminate the need for costly intermediaries or pre-funded Nostro accounts in destination currencies. (ripple.com)
The XRP ledger is an open - source product created by Ripple to solve a major point of friction in international payments which is the pre-funding of nostro / vostro accounts. (captainaltcoin.com)
In recent scenario, the banks opted for such payment options by maintaining foreign accounts in a local currency that is generally known as Nostro accounts. (globalcoinreport.com)