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Ripple Launch New 4.0 Update: 200 Banks to Integrate xRapid

 
 
Ripple Launch New 4.0 Update: 200 Banks to Integrate xRapid
Breaking News / Ripple

David Schwartz, the Chief Technology Officer at Ripple Labs, has said that the latest version of its cross-border payment solution xCurrent is now live, giving its 200-plus customers a way to implement the XRP-powered xRapid with just the flip of a switch.

Schwartz took to Twitter to say that the upgrade was officially launched:

“4.0 is live. We’re working to get all customers upgraded, but it’s a complex process. Multihop, xRapid support, much easier peering, and a much easier customer integration process are the major new features.”

This upgrade promises “Increased Product Interoperability” and offers banks and financial organisations that want to leverage digital assets as a way to “seamlessly access xRapid for digital asset payments.”

In a nutshell, this means that every financial organisation on RippleNet will now be able to easily integrate xRapid and use XRP to increase the speed and liquidity of cross-border payments.

The new features of the 4.0 upgrade have been highlighted by Ripple:

 

  • “Multi-Hop Payments – Leverage new liquidity arrangements for nostro account consolidation and further payment reach

 

  • New User Interface – Deploy, configure, administer and test xCurrent through a simple interface
  • Bulk FX – Purchase FX in bulk from counterparties on RippleNet
  • Enhanced Onward Forwarding – Gain final mile visibility on payment status when forwarded to domestic payment schemes
  • Easier Counterparty Peering – Automate API workflow to enable easier peering to counterparties on RippleNet
  • Increased Product Interoperability – Seamlessly access xRapid for digital asset payments
  • Upgraded Multi-Currency Support – Onboard new currencies without creating multiple databases
  • Additional Error Codes – View more specific error codes for easier STP handling of exceptions
  • Zero Downtime – Eliminate server restarts after making configuration changes
  • Improved Auditing and Monitoring – Receive detailed audit reporting and health checks for connection issues”

 

 

Ripple launched xRapid last October and the firm’s global head of banking recently confirmed ten companies are now using XRP to boost global payments.

Price

In terms of price, Ripple’s XRP token is performing well - just as the rest of the market is - and has got a price of $0.30 following a 2.03 percent increase over the past 24 hours.

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