HomeTodays NewsRipple: Interest from existing customers for new functionalities like xRapid is growing, claims David Schwartz
Ripple: Interest from existing customers for new functionalities like xRapid is growing, claims David Schwartz
May 4, 2019
The prices of most cryptocurrencies were spiking, sparking speculations of a bull run. XRP, the third largest cryptocurrency, was spiking at press time. However, it did not register growth in the present year. Its native company, Ripple has been on its toes, supporting and promoting the coin, while marketing itself to financial investors.
A Twitter user, @CNHoldings, tweeted and asked for clarification about one point marked on EvonSys’s blog about integrating ‘Ripple XRP’ to most prominent people in its ecosystem. The point read,
“Ripple enables banks to transact instantly and directly with any other bank partner around the world, optionally sourcing liquidity from a competitive market of third-party liquidity providers, with end-to-end visibility and confirmation of funds delivery”
The Twitter user highlighted the “optionally sourcing liquidity” part to question the board about third-party liquidity providers, like exchanges. Ripple’s Chief Technology Officer replied,
“Yes. We never try to force people or pressure. We make options available and let people take what works best for them. The most important thing to grow is to provide the best possible experience by enabling many options.”
The CTO meant that the two bodies between which the transaction has to take place had to decide which third-party liquidity provider to utilize, without Ripple promoting an exchange or any other service. Ripple highlighted this option in a blog titled ‘Liquidity Provisioning on Ripple’ that read,
“A third-party liquidity arrangement allows both transacting banks to authorize a third-party institution to provide the FX liquidity for delivery of payments. This third-party institution can be a payment provider that holds accounts with both transacting banks and provides the FX for the transaction. “
The CTO also informed the community about the increasing popularity of xRapid and a growing interest from existing customers for the same.