In the last few weeks and months, Ripple, announced new partnerships, but also Acquisitions. The most prominent example of this was (and is) the Acquisition of the second largest provider of money transfers: MoneyGram. A few days ago, Ripple has expanded its geographical and strategic influence, it has taken over the Icelandic crypto-trading company Algrim. The target of the Acquisition, among other things, an improvement in the Services for the customers of the RippleNet is. An essential part of RippleNet was xRapid as a “guarantor” for cost-effective and efficient cross-border payments.Ripple passed now, however, the name xRapid and introduces the new product name “On-Demand Liquidity”.
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Ripple and xRapid a thing of the past. On-Demand Liquidity is the new product name
Who goes to the official website of Ripple, you will see that the classic products xRapid, xCurrent and xVia are not mentioned. The following Screenshot shows a current snapshot:The change in the name of the product, it was announced by Emi Yoshikawa, who is Senior Director for Global Operations and Partnership Ripple be responsible, via Twitter. After also already been speculated about the “abolition” of xRapid, managed to you by your Twitter Post for clarity. The “new” product On-Demand Liquidity, it is still xRapid, just with a new name. Literally, it means:
To put it in other words: what used to be called xRapid, it will now be called On-demand Liquidity and ODL abbreviated. Regardless of whether you use ODL or the traditional liquidity system (Prefunding), the Rest is the same mechanism, i.e. the same platform.
Even if there is no official Statement for the reasons of the change of name, to be a coherent reason find. Because the Team around Ripple has driven his efforts for On-Demand liquidity; and, in particular, with the new Payment Corridors (dt. Payment channels) in the Philippines and in Mexico. Financial institutions that are in the RippleNet, however, the traditional liquidity system, they can understand the concept of ODL, more than xRapid. In other words: It is easier to recognize what is behind the concept of On-Demand Liquidity as a behind the fictional word xRapid.Trade on the most successful Crypto-exchange. If you’re looking for a reputable point of contact, to act with real crypto currencies, then take a look at our Binance Test 2019! In this article, we have analyzed all the features and benefits of the crypto-exchange in more detail and evaluated. The most the most popular crypto-stock exchange today! Now on Binance sign up.
Ripple: recent (strategic) Acquisition of Algrim plays an important role in the future of the Ecosystem
As I have already briefly mentioned in the introduction, the Acquisition of Algrim an important role in this. Because the six new engineers from the “Team Algrim” to contribute in the development of ODL Expertise with. Amir Sarhangi, the is makes as Vice President of Product Innovation at Ripple, finds words of praise for the partnership and says:
What I like about it really is that the traditional exchanges have matured over the years and the technology and scale of this industry is really top notch. The Team then moved (that is, the Team behind Algrim), and started with crypto-to-work exchanges, in terms of technology and maturity in General a lot younger.
With the Acquisition, the Ripple Team is now expanding its Expertise by bringing experienced Player, both in the area of traditional stock exchanges as well as the crypto-market experience.xRapid is On-Demand Liquidity? What do you think of the new name of the product? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)