Ripple for global payments

Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally.

Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network created by the Ripple company. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples). Released in 2012, Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.

The network can operate without the Ripple company. Among validators are companies, internet service providers, and the Massachusetts Institute of Technology.

Distribution

Of the 100 billion created, 20 billion XRP were retained by the creators, who were also the founders of Ripple Labs. The creators gave the remaining 80% of the total to Ripple Labs, with the XRP intended “to incentivize market maker activity to increase XRP liquidity and strengthen the overall health of XRP markets.” Ripple Labs also had a short-lived 2013 giveaway of under 200 million XRP (0.2% of all XRP) with some of the amount given to charities such as the Computing for Good initiative, which began offering XRP in exchange for time volunteered on research projects. As of March 2015, 67% of Ripple Labs’s original 80% was still retained by the company, with Ripple Labs stating that “we will engage in distribution strategies that we expect will result in a stable or strengthening XRP exchange rate against other currencies.” In May 2017, to alleviate concerns surrounding XRP supply, Ripple committed to place 55 billion XRP (88% of its XRP holdings) into a cryptographically-secured escrow. The escrow will allow them to use up to 1 billion monthly and return whatever is unused at the end of each month to the back of the escrow queue in the form of an additional month-long contract, starting the process all over. The amount of XRP distributed and their movement can be tracked through the Ripple Charts website.

Used by companies such as UniCredit, UBS and Santander, Ripple has been increasingly adopted by banks and payment networks as settlement infrastructure technology, with American Banker explaining that “from banks’ perspective, distributed ledgers like the Ripple system have a number of advantages over cryptocurrencies like bitcoin.”

Better Than Any Blockchain

Built on the most advanced blockchain technology that is scalable, secure and interoperates different networks.

Provides optional access to the world’s fastest and most scalable digital asset for payments, XRP.

Growing Global Network

Banks, payment providers and digital asset exchanges process and provide liquidity for payments on RippleNet, creating new, competitive cross-border payments services for their customers.

Instant and Certain Settlement

xCurrent is Ripple’s enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking. Using xCurrent, banks message each other in real-time to confirm payment details prior to initiating the transaction and to confirm delivery once it settles. It includes a Rulebook developed in partnership with the RippleNet Advisory Board that ensures operational consistency and legal clarity for every transaction.

Low-Cost Liquidity

xRapid is for payment providers and other financial institutions who want to minimize liquidity costs while improving their customer experience. Because payments into emerging markets often require pre-funded local currency accounts around the world, liquidity costs are high. xRapid dramatically lowers the capital requirements for liquidity.

Standard Payments Interface

xVia is for corporates, payment providers and banks who want to send payments across various networks using a standard interface. xVia’s simple API requires no software installation and enables users to seamlessly send payments globally with transparency into the payment status and with rich information, like invoices, attached.

Payment tracking

Process payments on demand with tracking and delivery confirmation, even in non-traditional networks, like wallets.

Capital efficiency

Free up capital sitting idle in foreign currency transaction accounts with on-demand and real-time global payments.

Rich data transfer

Significantly improve the reconciliation process through rich data including invoices attached to payments.

32 thoughts on “Ripple for global payments


  1. You actually make it appear really easy with your presentation however I in finding this matter to be really one thing which I feel I’d by no means understand.
    It kind of feels too complex and very wide for me.

    I am looking forward on your next publish, I will attempt to get the cling
    of it!


  2. Have you ever considered about adding a little bit more than just your articles?
    I mean, what you say is fundamental and all. However imagine if
    you added some great pictures or video clips to give your posts
    more, “pop”! Your content is excellent but with images and videos, this blog could
    certainly be one of the very best in its field.

    Great blog!


  3. I don’t know whether it’s just me or if everybody else experiencing issues with your website.
    It looks like some of the written text on your content are running off the screen. Can somebody else please provide feedback and let me know if this is
    happening to them too? This might be a problem with my internet browser because I’ve had this happen before.

    Thank you


  4. I just could not depart your site prior to suggesting that I extremely
    loved the standard information a person supply in your
    visitors? Is gonna be again ceaselessly to check up on new posts


  5. Good day! Would you mind if I share your blog with my zynga group?
    There’s a lot of folks that I think would really appreciate your content.
    Please let me know. Cheers


  6. hello there and thank you for your information – I
    have certainly picked up anything new from right here.
    I did however expertise several technical issues using this web site, since
    I experienced to reload the website many times
    previous to I could get it to load correctly. I had been wondering if your web host is OK?
    Not that I’m complaining, but slow loading instances times
    will very frequently affect your placement in google
    and can damage your high quality score if ads and marketing with Adwords.
    Well I am adding this RSS to my e-mail and could look
    out for a lot more of your respective exciting content.

    Make sure you update this again soon.


  7. An impressive share! I have just forwarded this onto a colleague who
    has been doing a little homework on this. And he in fact bought me dinner
    due to the fact that I found it for him… lol.

    So let me reword this…. Thanks for the meal!! But yeah, thanx
    for spending some time to discuss this matter here on your web
    site.


  8. This is really interesting, You are an excessively skilled blogger.

    I’ve joined your feed and look ahead to seeking extra of your wonderful post.
    Additionally, I’ve shared your web site in my social networks


  9. you’re actually a good webmaster. The web site loading pace is amazing.
    It sort of feels that you are doing any distinctive trick.

    Moreover, The contents are masterwork. you’ve done a excellent
    activity in this matter!


  10. Have you ever thought about including a little bit more than just your articles?
    I mean, what you say is valuable and all. However imagine if you
    added some great visuals or videos to give your posts more, “pop”!
    Your content is excellent but with pics and clips, this
    site could certainly be one of the very best in its field.

    Excellent blog!


  11. You actually make it seem really easy along with your presentation however I find this topic to be really something that I think I’d never understand.
    It kind of feels too complex and very vast for me. I am looking ahead on your next put up, I’ll try to get the dangle
    of it!


  12. I’m amazed, I must say. Rarely do I come across a blog that’s both equally educative and
    amusing, and let me tell you, you have hit the nail on the head.
    The issue is something too few folks are speaking intelligently
    about. Now i’m very happy that I stumbled across this in my search
    for something regarding this.


  13. It’s appropriate time to make some plans for the long
    run and it is time to be happy. I’ve learn this put up and if I may I wish to
    recommend you few attention-grabbing things or tips.
    Perhaps you can write next articles referring to this
    article. I want to learn even more issues approximately it!


  14. Hello there! I know this is somewhat off topic but I was wondering if you knew where I could get a captcha plugin for my comment form?
    I’m using the same blog platform as yours and I’m having trouble finding one?
    Thanks a lot!


  15. I’m now not positive where you are getting your information, however great topic.
    I must spend some time studying more or working out more.

    Thank you for fantastic information I was searching for this information for my
    mission.


  16. Awesome! Its genuinely amazing article, I have got much clear idea
    on the topic of from this piece of writing.
    pof natalielise


  17. Pretty section of content. I just stumbled upon your web site and in accession capital to claim that I acquire actually
    enjoyed account your weblog posts. Anyway I will be subscribing on your feeds or
    even I achievement you access constantly quickly.


  18. Excellent post. I used to be checking continuously this blog and I am
    impressed! Very helpful information specifically the
    final part 🙂 I deal with such info a lot. I used to be
    seeking this particular information for a very lengthy time.
    Thanks and best of luck.


  19. When someone writes an post he/she keeps the image of a user in his/her
    brain that how a user can know it. So that’s
    why this article is perfect. Thanks!


  20. I was recommended this blog by my cousin. I’m not sure whether this post is written by him as
    nobody else know such detailed about my difficulty.

    You are incredible! Thanks!


  21. An impressive share! I have just forwarded this onto a co-worker who had been conducting a little research on this.
    And he in fact bought me lunch because I found
    it for him… lol. So allow me to reword this….
    Thanks for the meal!! But yeah, thanks for spending time to discuss this issue here on your web site.

Leave a Reply

Your email address will not be published. Required fields are marked *