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How Ripple (XRP) xCurrent is Boosting American Express Transaction Speeds

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Ripple

Back in December and amidst the peak period of the cryptocurrency ‘mania’, Ripple (XRP) and American Express ‘shook hands’ in a partnership that was one of the many that highlighted that period. Other Ripple partnerships announced in December were with Santander, Western Union, and Moneygram.

In the case of American Express, not too much was disclosed in terms of which Ripple software solution was going to be used with their payment processes. All speculation hinted at xVia or xCurrent. But a recent news development has revealed that it is indeed xCurrent that American Express is using. This is the same software solution seen to power Santander’s OnePayFX app.

What is xCurrent?

xCurrent is Ripple’s enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking. Using xCurrent, banks message each other in real-time to confirm payment details prior to initiating the transaction and to confirm delivery once it settles.

How is it helping American Express transact better?

Representatives of both Ripple and American Express were at the recently concluded Money 20/20 event in Amsterdam. In one of the panel discussions, they talked about the payment challenges faced by SME’s (Small and Medium Size Enterprises). Ripple products were identified as being the best suited to solve the issues faced by such businesses.

American Express also understands the payment challenges faced by SME’s for their cards are used at most POS (Point of Sale) systems owned by the same businesses. Marcus Treacher, Ripple’s SVP of customer success, explained that:

“The consumption of Ripple technology is not a heavy lift for SMEs. This is because we’re implementing within the existing payment networks and banking world.”

This was in reference to the fact that American Express integrated xCurrent into its already existing infrastructure for global payments. This means that transactions done using AMEX cards will be as fast as those witnessed in the live demonstration of Santander’s OnePayFX mobile app.

In conclusion, American Express has clarified what Ripple product is being used to make payments on their platforms faster and more efficient for its customers. This means that xCurrent is gaining strides and real-life problem-solving situations as can be seen with both Santander OnePayFX app and now, American Express.

Colin O’Flaherty, American Express’s VP & General Manager of global commercial services UK & Russia, best summarizes this when he was quoted as saying:

“We’re still in the early stages, learning a lot. And blockchain offers a big opportunity to solve real customer needs.”

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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