By
Chimamanda U. Martha
May 10th, 2024
The fresh news has seriously surprised the community: Ripple is considering integration of xVia, xCurrent and xRapid into one solution named Convergence.
It is obvious that the market never stands still. The companies are always looking for the most effective and feasible solutions that can meet all customers’ demands. In order to achieve the highest effectiveness and productivity of its proposed solutions, the Ripple company has decided to merge its three main products—xVia, xCurrent and xRapid—into one convenient solution. A new integrated product will be known as Convergence, as was announced by Jim Chauncey-Kelly, the Director of Talents Acquisition at Ripple.
Though there is no official information on their new software project from Ripple, some details of the on-going preparatory work have been revealed by Chauncey-Kelly in his recent interview. When asked about the reasons of expanding the company’s team and hiring a lot of engineers which has happened earlier this year, Jim said that largely it was because of their plans to launch Convergence. 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.”
Though we can still only guess whether Convergence will become a reality, it is supposed that with this software solution that unites three of the company’s main products, users will have an excellent opportunity to enjoy the benefits of speed and security of all the operations needed for moving funds from one part of the world to another. Moreover, the fees are said to remain as low as possible.
Everything about Convergence is rather unclear right now, Chauncey-Kelly himself posted a tweet on this issue:
“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 is not a software actually called ‘convergence’.”
Though this tweet was deleted lately, it didn’t prevent the community from being extremely excited about the fact that Ripple would create a new solution. Some members of the XRP community call such a project a “smart move” and believe that this merger of the most effective company’s solutions has an ability to drive the blockchain product to a new level.
If this new solution is launched, the Ripple community, that at the moment is worried by XRP’s absence from Coinbase listings, will have all the grounds to be happy, as this move will definitely support the market positions of XRP and attract new investors.