Important Ripple Cryptocurrency News
The fact About Ripple’s “Convergence”
Ripple’s Convergence solution was mentioned by the Director of Talents Acquisition at Ripple Jim Chauncey-Kellyat Interview Now in which he said, “Earlier in the year, a big part of what my team was focused on was hiring a lot of engineering. This was probably our biggest push because we are building a software called Convergence that syncs together all of our 3 major products into one seamless format.
For example, if American Express (one of our clients) wants to send $500 to a bank in Thailand, there is an immediate quote of what that exchange is and the money goes through. This is something that brings together all of our products to further enhance RippleNet which is very exciting.”
Although the post was later deleted, it was the foundation of the rumor that Ripple plans to integrate its three services which are xVia, xCurrent and xRapid into One convenient solution. With the debate on its possibility raging online, Kelly came up with an explanation in a tweet in which he wrote:
“Hi All – for clarity — we have 3 products – xCurrent (in production) and 2 more on the way – xVia & xRapid. They will be on a ‘convergence’ release soon. There isn’t a software actually called ‘convergence’.”
Ripple Wants to Move Into China
Ripple has been one of the most controversial platforms in the crypto industry, yet the company behind the “blockchain” has made some of the most strategic partnerships bordering of payment solutions and offering similar services to institutions such as banks.
Earlier this year, the Ripple Inc. signed a deal with LianLian international of Hong Kong to commence use of the Ripple platform for cross-border payments. However, indications show that Ripple has set its sights on mainland China.
A Ripple executive recently said in an interview with CNBC, “China is definitely of interest, it is definitely a target,” Jeremy Light, vice president of European Union strategic accounts at Ripple, told CNBC in a phone interview. “China is definitely a country and region of interest.”
XRP/USD Price Chart, Tuesday August 21st:
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