XCurrent is a distributed ledger technology (DLT) platform that enables banks to instantly settle cross-border payments with end-to-end tracking. It is powered by RippleNet, Ripple’s global payments network, and provides a secure, compliant, and reliable way for banks to transact with each other.
XCurrent is a distributed ledger technology (DLT) platform developed by Ripple, a leading provider of enterprise blockchain solutions. XCurrent is a real-time gross settlement system (RTGS) that enables banks to instantly settle cross-border payments with end-to-end tracking. It is a permissioned blockchain platform that allows banks to securely and quickly transfer funds across borders.
XCurrent is based on the Interledger Protocol (ILP), which is an open source protocol that enables payments to be sent across different ledgers and networks. This allows banks to send payments to each other without having to rely on a single ledger or network. XCurrent also includes a messaging system that allows banks to communicate with each other in real-time. This allows banks to quickly and securely exchange information about payments, such as the amount, currency, and sender and receiver details.
XCurrent also includes a consensus mechanism that allows banks to agree on the validity of a transaction before it is settled. This ensures that all parties involved in the transaction are in agreement and that the transaction is valid. This helps to reduce the risk of fraud and double-spending.
XCurrent is designed to be a secure and efficient platform for banks to send and receive payments. It is a cost-effective solution that allows banks to quickly and securely transfer funds across borders. It is also a reliable platform that ensures that all parties involved in a transaction are in agreement and that the transaction is valid. XCurrent is a powerful platform that is helping to revolutionize the way banks send and receive payments.