Rajarshi Mitra
Independent Analyst
- xCurrent 4.0 enabling their customers to integrate XRP-Powered XRapid payments system
- xCurrent is used to facilitate instant and inexpensive cross-border transactions.
Ripple’s chief technology officer (CTO), David Schwartz confirms that xCurrent 4.0 is live enabling their customers to integrate XRP-Powered XRapid payments system. Ripple’s customers use xCurrent to facilitate instant and inexpensive cross-border transactions. Therefore the upgrade is a massive deal for the firm. xCurrent uses a blockchain messaging system. After the upgrade, the system can be integrated with XRP-Powered XRapid which will facilitate cross-border remittances, providing banks and financial institutions with on-demand liquidity.
However, Schwartz believes that it will be tough to encourage Ripple’s customers to upgrade to xCurrent 4.0. Therefore, the firm is working hard on its initiation. Schwartz also said that upgrading to xCurrent is a complex process:
“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.”
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