The sixth episode of Ripple Drop helped the company highlight some of its most interesting stats of the year. The episode focused on xVia, a solution that helps users connect to the broader Ripple ecosystem and the multi-hop feature that will benefit the entire blockchain network. The episode also showed an interesting side of the Q3 figures of Ripple that confirm an unprecedented rise in the amount of direct institutional buying into the company.
How Three Different Ripple Products Work Together?
Host Reinhard Cate first talked to the SVP of Product Asheesh Birla about the three different products available on RippleNet and how they work together. Birla explained in brief how xVia connects all products on the RippleNet, i.e., xRapid and xCurrent.
In an ideal situation, sending payments from the US to Mexico would become easy with xVia. Senders connect directly to xVia which connects to xRapid which can be used to send the funds to a Mexican receiver. This will help them eliminate the need of an FTP server completely. This reduces at least 3 to 5 days from the transaction time. For people based in other jurisdictions where xCurrent is available, the whole process becomes even simpler.
The director of product Craig DeWitt also talked about the multi-hop feature of RippleNet that was recently used by the Siam Commercial Bank. DeWitt explained:
“Multi-hop gives RippleNet members the ability of transacting with banks, payment providers or digital wallets that they don’t have a direct relationship to.”
He further noted that the current movement of money is dependent on a “chunk of bilateral relationships.” The multi-hop features change this from the ground up as it returns multiple quotes to the user with different paths of transfer.
The Q3 Results of Ripple
Finally, Cate talked to the chief market strategist at Ripple Cory Johnson who said that the biggest change in the quarter was the unprecedented buying by Wall Street. Institutional buying directly from the company increased by 400 percent quarter-on-quarter for Ripple which signals the growing interest of investors.
RippleNet experienced tremendous growth this year, expanding its reach to 40 countries across six continents.