If you have been using a crypto portfolio tracker for keeping tabs on the cryptocurrency trends then you might have observed how this year has been a good start for cryptocurrency as it has won the attention of many new investors and clients.

Introduced in 2012, Ripple and its digital asset XRP, has been a unique addition to the cryptocurrency market with features to increase efficiency of money transfers and transactions for banks and other enterprises. Ripple’s blockchain enables its customers to smoothly send and receive payments globally within a matter of seconds while maintaining customer privacy and lowering transaction fees.

Ripple’s development team managed to create an improved platform that eliminated the issues seen in Bitcoin’s system. At present, Ripple’s global payments network is still growing. Ripple claims its products to be a cheaper, faster and more efficient solutions for online payment systems worldwide. However, not all these Ripple products are XRP centric in its $35 billion worth markets.

In the following section, we have briefly described 3 Ripple products that everyone should know about in 2018.

xCurrent

Constructed on a distributed ledger known as the Interledger, xCurrent is Ripple’s enterprise software solution for all sorts of financial institutions. By means of xCurrent, banks can now communicate with each other in real-time to confirm and monitor payments details before starting the transaction and authorize the delivery once it reaches its end point. All this can be done while maintaining the customers privacy.

Stefan Thomas, Ripple CTO says that xCurrent provides a single source of truth for the transacting parties while maintaining the privacy of banking customers’ payment information.

xCurrent gives banks the opportunity to transact with one another even if the sender and receiver are transacting two different currencies. Customers can trade XRP through the network as well.

xRapid

xRapid is a new product introduced for payment providers and financial establishments that wish to minimize liquidity costs while keeping in mind the quality of their customer experience. This invention makes use of XRP in a way that liquidity costs of emerging markets are intensely lowered. It provides banks and payment providers an efficient and reliable liquidity solution to facilitate global payments.

Basically, companies can exchange funds in the form of XRP, in and out of the network using Ripple’s xCurrent payment system. In addition, this would drive up the demand for XRP in the public market.

xVia

xVia is for those banks, firms and payment providers that want to send global payments through a standard interface. xVia does not use XRP as default currency and offers an easy API that allows users to effortlessly send cross-border payments while there is transparency into the payment status and rich information such as invoices can be attached.

Conclusion

Till this day, Ripple has never failed to stun the financial industry with its impressive tools and instruments for simplification of the digital payment process. The above-mentioned picks are products that ensure a seamless and smooth payment process for financial institutions and investors. No doubt, the enterprise is dripping with potential and we are looking forward to what is coming up in Ripple’s future. Stay tuned for more groundbreaking information on the company and cryptocurrency updates in the future.