- SBI Ripple Asia planning to take over Ripple’s Network
- Xpring developer platform now available
It seems SBI Asia is insistent on expanding, in a recent meeting, it was declared how SBI Asia is trying to take up about half of the transaction volume of the Ripple network. SBI seems to have a bold and ambitious goal towards Ripple, one if to be candid is realizable. SBI Remit currently processes real-time transfers from Japan to other banks across Southeast Asia.
The aim now is to expand on the existing payment channel and progress the total liquidity. Stating that: “For transfers from Japan to banks in Southeast Asia in which the SBI Group invests, a system with xCurrent (in future xRapid) is being developed in cooperation with SBI Remit, SBI Ripple Asia and several banks in Southeast Asia.”
As of now, the allied SBI Ripple Asia banks depend on RippleNet to process transfers. In the long-term, all users will be expected to move over to Ripple’s On-Demand Liquidity. This switch to innovative payment channels will be useful to both clients and the service provider. Compared to existing bank set-up, Ripple’s technology is swift, rather than hours or days conventional banks take.
The SBI Remit payment platform is already working with MoneyGram to effect transfers to over 200 countries and up to 350,000 locations globally. Since June this year, MoneyGram has been an active partner of Ripple, processing transactions through On-Demand Liquidity.
XRP (XRP) Price Today – XRP / USD
The payment channel from Japan to Vietnam in association with TPBank was activated on 15 November 2019. In this location, 42% of the transaction volume is processed through RippleNet. SBI Ripple Asia covers about 50% of the whole Ripple network once the connection is activated.
Xpring Developer Platform Now Available
In October, Xpring announced the establishment of a platform mainly for application based on the XRP Ledger. Recently, Xpring declared that the website is now available for download https://xpring.io/. The senior Vice President at Xpring, Ethan Beard gave details about the project stating that: “That will be the central hub for developers to manage everything they need when it comes to integrating payments into their apps.”
According to Ripple, the platform’s Software Development Kit (SDK) offers several prospects for developers from any industry to use XRP to improve their business processes. This is designed to upturn the adoption of XRP and trust in Ripple.