David Schwartz Claims Interest In Ripple’s xRapid New Functionalities Is Growing Amongst Banks

    Ripple is, without a doubt, one of the most important companies in the crypto world. It is the creator of the XRP tokens, which are currently the third largest token in the industry by market cap. At the moment, Ripple is trying to promote its XRP token at the same time that the company gets the support of instittutional investors which can use it in their services.

    Now, David Schwartz, the Chief Technology Officer of Ripple, has recently answered a Twitter user talking more about the Ripple ecosystem.

    The user was Chris Ness, also known as @CNHoldings, which tweeted about an article created by EvonSys which talked about how Ripple’s XRP was integrated with the ecosystem. The point that highlighted by the user affirmed that Ripple was created to enable banks to make transactions directly with any other bank in the world.

    This would be done by optionally by sourcing liquidity from competitive third-party markets with “end to end visibility”. This last part was what intrigued the Twitter user.

    Schwartz was quickly to answer him, affirming that the company never tries to force people and that they just make all options available and let they choose what benefits them. The most important thing, they affirmed, is to always provide the best possible experience so that the users can choose whatever they wish in their ecosystem.

    He also affirmed that the two bodies involved in each transaction are able to decide whether they will use a third-party provider for liquidity or not and that they will be able to choose which one.

    According to him, Ripple will never necessarily promote any specific exchange or service in the industry and their clients have all the freedom to decide for whatever service they want to use.

    During the occasion, the CTO affirmed that people could read more about the subject at a blog article called “Liquidity Provisioning on Ripple” and affirmed that third parties could create arrangements with payment providers in orders to provide liquidity but that Ripple was never the intermediary of that.

    He also informed the community that xRapid is growing fast recently and that the service has evolved a lot this year.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Gabriel Machado
    Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Crypto Community Sentiment Still Bullish Despite BTC Trading 40% Lower Than Yearly High

    Bitcoin proponents had a lot of expectations from 2020, given the impending Block Reward Halving and the expected bull run. The year started as...

    Modern Monetary Theory (MMT) vs BTC to be the Main Event of 2020

    The biggest global emergency of the century, COVID-19 pandemic has the Treasury officials trying to decide on how much they can spend to fight...

    This Crisis Is A ‘Perfect Storm' For Bitcoin But We Could Be In For A ‘Prolonged Bear Market'

    Bitcoin is back in the green, recording the gains of 3.14% in the past 24 hours while volume on the top ten exchanges with...

    Banking Giant Santander to Bring One Pay FX Payment System to Mexico Utilizing RippleNet

    In 2020, the major Spain-based bank Santander is planning to roll out the One Pay FX program, its Ripple powered system for international payments,...

    Bitcoin Bull Market Won’t be Happening Immediately After the Halving: Bitmain CEO

    Bitcoin is currently trading above $6,300, still down over 14% on a year-to-date basis but up more than 60% from the 2020 low of...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.