Ripplenet On-Demand Liquidity and Payment RemittancesApril 11, 2019
Ripple is involved in the advancement of remittance solutions in order to provide customers with a frictionless solution to send and receive money.
Ripple currently connects the payment provider and the banks by making use of RippleNet. The transfer of value across the Ripple Network is done by making use of the XRP token. XRP is considered to be one of the best trading instruments that can be used to reduce the spreads and to expedite market thickness.
RippleNet is the ideal solution for on-demand liquidity. Ripple was originally
The existing payment system moves the money from one payment system to the next by a series of internal book transfers through different financial institutions.
Cross-border payments are impossible without the intervention of Central Banks and the Nostro Accounts of Payment providers.
RippleNet customers who are not interested in using Nostro Accounts tend to make use of digital assets like the XRP in order to source on-demand liquidity. xCurrent, xRapid, and xVia are the major products of Ripple.
Ripple is now working with TCS an IT major in order to take the international remittance services to the next level. The Federal Bank of India has entered into a partnership with Ripple in its effort to upgrade its remittance solutions. The Federal Bank has more than 15% share in the remittance market.
The partnership of Ripple with RationalFx’s will provide for the cross payments to over 200 destinations for the 180,000 strong customer base. This is a mutually beneficial partnership. The benefit for RationalFx will be faster transfers, and this will prove to be easier and far secure for customers. More than 10 billion worth of transactions have taken place over RationalFx ever since 2005 and therefore Ripple will benefit from the partnership by volume.
RationalFx through their Tweet has made it very clear that they will be using the only xCurrent for now. With xCurrent, the enterprise solution will permit cross border payments. They will facilitate real-time payments through a range of currencies not limited to XRP.
The tweet read thus: “We’ve partnered with #Ripple, to make your money transfers faster, easier and more secure. Join the thousands of clients currently using RationalFX to manage their international money transfers.”
Meanwhile, Ripple is continuing to create newer partnerships for the RippleNET payments network. The major goal of Ripple is to become a major replacement for the traditional methods of cross border payment systems. The XRPs fluctuating market currently will provide with advantages for traders who work with short-term investment plans.