A Quick RippleNet Primer: For All Financial Institutions & Business Investors.

We all have experienced the banking system where banks under the regulation of centralized bank(govt. Controlled) are the main infrastructure, to lend & send money digitally, but it has its own loopholes like,
  • It’s slow in payment settlement, generally it takes 3–5 days to settle your transaction.
  • It is costly to open & run the banking infrastructure
  • The transactions are not highly secure & reliable, failure rates are high
  • It doesn’t utilize the power of digital connectivity seamlessly and is not elegant in terms of user experience
source: ripple.com

With all these glitches of the banking institutions, which was designed way before the internet revolution took place is now being challenged by all new Blockchain Innovation based payment infrastructure, where Ripple is leading the way. It has a reliable, fast & secure payment infrastructure network called RippleNet.

All the payment seekers, payment lenders and the currency exchanges, here is the network which can help you manage & send payment across borders seamlessly. Now experience the quickest mechanism of payment lending & sending which will save your valuable time, cost & energy.

What Is RippleNet?

As per ripple.com

RippleNet is a decentralized global network of banks and payment providers using Ripple’s distributed financial technology, which provides real-time messaging, clearing and settlement of financial transactions.

It is a network where ripple enables banks, money lenders, digital currency exchanges(Cryptocurrency exchanges ) & business houses all to come at one place facilitating money to be sent across the borders in hassle free manner.

We have already covered Ripple basics in my article :

A Quick Ripple Primer To Make You An Informed User! It is recommended that you go through it, to grab the basic concept of Ripple & XRP .

Why You Should Use RippleNet?

As I already spoke in the start that there are many pain points in the current global payment system:

  • Delays in payment settlement
  • Lack of transparency within the system
  • High cost to expand globally
  • Not Efficient & Elegant

RippleNet solves all these core issues with its decentralized network of independent banks and payment providers, that connect through Ripple’s technology and standardized rule set to send realtime, traceable payments globally.

How TF It Works?

This Decentralized Ripple Network empowers & serves the key players involved in this payment ecosystem through 3 unique solutions —

  1. xCurrent: To Process Payments
  2. xRapid: To Request Liquidity
  3. xVia: To Initiate Payment Transactions

A: xCurrent: For Current Payment ecosystem To Process Payment seamlessly

xCurrent is Ripple’s enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking

This Real time payment processing tool enables any two banks across borders to transact with optimum speed, enhanced transparency & reliability. It is being employed by some popular banks to process payments for originators and also to acquire new customer globally at low cost and to serve their customers in much better and efficient way.

How xCurrent Works ? Source

B: xRapid: Source liquidity on demand-

For current financial institutions the biggest challenge is to cut down their liquidity cost and pass that to serve their customers well in givin them the experience of their lifetime. Specially in developing market, which demands local accounts to be pre filled with local currency across the globe. So to maintain this liquidity is a challenge for current banking system

RippleNet has solutions to this liquidity crunch, which is known as xRapid: it helps the financial institutions, by dramatically lowering the capital requirements for liquidity.

How xRapid Manages To Do So?

It is made possible due to powerful XRP(Protocol) which is a digital asset to fuel the on-demand liquidity, it is a perfect solution to source liquidity in real time for the emerging market.

As per ripple.com:

Built for enterprise use, XRP offers banks and payment providers a highly efficient, scalable, reliable liquidity option to service cross-border payments.

For more details on XRP please refer: A Quick Ripple Primer To Make You An Informed User! or visit https://ripple.com/xrp/

Various payment lenders, financial institutions & banks who are looking to source on-demand liquidity to increase their payment volumes across the globe are the one, who are taking the advantage of this solution .

3. xVia: Single point of integration for originating payment To Be Sent Across The Borders

xVia works as a-

A web services API layer enabling corporates to securely originate real-time payments with rich data attachments.

It is a standard payment interface which enables users to seamlessly send payments globally with required system transparency, with rich information, like invoices, attached while transacting.


So all you money, lenders and aspiring banks, looking to increase your global footprint at minimal cost, here is your friend RippleNet, which will reduce your cost of expansion, will ease the transaction process, will provide the required transparency and security in the system, to make it super efficient & reliable. Adopt it and start improving your current balance sheet & build the future proof system, which can cater to the ever growing financial demands of the market.

I Feel :

When the financial system will get the power of RippleNet & adopt blockchain based cryptos to become the core part of the digital currency transaction they are bound to thrive and empower the economy with far more impact than the current banking system.

Time To Leave With Some Blockchain Anatomy :

To familiarize you all about what goes behind the blockchain which is at core fuelling digital currency engine-


Extending my sincere gratitude to all you awesome readers for showering all your love & constantly inspiring me to write more & helping me learn more eventually.

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Pramod Chandrayan

Founder & CEO (Mobibit Soft (P) Ltd) | Mobile App Development Consultant | Startup Mentor | Spiritual Seeker

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