Ripple expands the product suite: RippleNet

Ripple grows its product suite by launching RippleNet
07 August 2017   1330
Ripple

Is a real-time payment protocol, a shared public database with a built-in distributed currency exchange operating as the world's universal translator for money

Ripple, a company that provides global financial settlement solutions to enable the world to exchange value like it already exchanges information giving rise to an Internet of Value (IoV), now announces its product suite expansion by the launch RippleNet.

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Thus, RippleNet is a global payments network. According to the Ripple team, this is not new – but "simply an evolution of the growing network that has been building significant momentum". RippleNet is the world’s only enterprise blockchain solution for global payments.

Processing Payments with xCurrent

xCurrent is the new name of the already existing enterprise software solution that banks and other financial institutions currently use to instantly send and receive cross-border payments with end-to-end tracking and bidirectional messaging across RippleNet. Recently, a Rulebook was added, developed to standardize all transactions across the network.

The Interledger Protocol (ILP) is the backbone of the solution and makes it possible for instant payments to be sent across a variety of different networks. 

Sourcing Liquidity with xRapid

xRapid is a new product currently being built for payment providers. Ripple team "uncovered an untapped need for a low-cost liquidity solution for emerging markets". xRapid uniquely uses XRP to lower the liquidity costs of payments in emerging markets. 

Sending Payments with xVia

xVia is also a new product currently in development. xVia is for those who want to send international payments through a bank or payment provider on RippleNet. xVia offers a standard interface as a simple API that enables users to send global payments with transparency into payment status and attach rich payment information, like invoices.

Line to Launch Bibox Exchange in Singapore

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem
16 July 2018   109

One of the most popular messengers in Asia Line has launched a Bitbox exchange in Singapore. Trading on the platform started this morning and is limited to pairs with crypto-currencies, Cryptovest reports.

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem.

BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX.
 

Bitbox Website

Bitbox charges a 0.1% commission and supports 15 languages, including English, Korean, Chinese, Spanish, French and German. In Russia, the US, Japan and some other countries, the exchange is not available.

At the beginning of the year, Line Group applied for a license to the Japan Financial Services Agency, but the process dragged on because of tightening of the regulator's requirements in the light Coincheck exchange hack. All crypto exchange, wishing to provide services in the Japanese market, are required to obtain permission from the local regulator.

Currently, Line is also in the process of obtaining a license in the US. The company decided to open its first trading platform for crypto-currencies in Singapore, as this city-state adheres to a progressive approach to the regulation of the digital currency sphere.

With cryptocurrency, we are going to take our challenge in financial services global.
 

Takeshi Idezawa

CEO, Line

In May, Line Group denied rumors that it intends to release its own token and distribute it through the ICO. Every month Line is used by about 200 million people. The messenger is extremely popular in Japan, South Korea and Thailand.