Crypto researcher SMQKE (@SMQKEDQG) posted that XRP could be integrated into FedNow. He connected these dots, using Volante Technologies as the link. Volante is a FedNow technology provider w
Crypto researcher SMQKE (@SMQKEDQG) posted that XRP could be integrated into FedNow. He connected these dots, using Volante Technologies as the link. Volante is a FedNow technology provider with a confirmed Ripple integration.
SMQKE pointed out that Volante confirmed the preferred approach for FedNow connectivity is through a service provider. Volante also confirmed that XRP settlement is available through its Ripple connection. The significance lies in the combination.
Volante sits between financial institutions and the payment networks they need to reach. Its position as a multi-network service provider, paired with an active Ripple integration, puts XRP within reach of institutions connecting to FedNow.
What the 2023 Barometer Showed
The 2023 Faster Payments Barometer surveyed organizations on how they plan to connect to FedNow and RTP. 47% said they prefer connecting through a third-party service provider, while 32% plan to connect directly to each network.
Deepak Gupta, SVP and Global Head of Payments-as-a-Service at Volante, addressed those findings. He said the “#1 preferred approach to connectivity, according to the Barometer, is via a service provider that can quickly connect institutions to multiple networks.” Volante is that provider for a significant portion of the market.
Volante’s Ripple Integration
In June 2020, a user asked Volante on Twitter whether XRP could serve as a settlement mechanism on its platform. Volante replied: “Volante’s platform can be used to settle through XRP via our @Ripple connection.”
That integration has been active since October 2015, when Volante launched the VolPay Hub Ripple integration capability. In 2016, Volante added a new Ripple solution inside the VolPay Foundation payments development platform.
That same year, the company partnered with Ripple to build software designed to accelerate connections to Ripple’s real-time cross-border payment solution. The integration is active, and banks and other Ripple customers have already deployed it.
The Infrastructure Is Already in Place
Volante connects institutions to both FedNow and The Clearing House’s RTP network. Financial institutions choosing the service provider route, which 47% prefer, route through companies like Volante. Those institutions already have access to XRP settlement on the same platform.
Interoperability remains a priority across the payments industry. The 2023 Barometer found that 92% of respondents consider interoperability across compatible systems to be important. Volante’s multi-network structure addresses that directly. Its Ripple integration extends that structure to include XRP as a settlement option.
SMQKE’s post connects something already confirmed and already operational. The connection between FedNow and XRP, through Volante’s infrastructure, is not a future possibility. The pieces are already connected.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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The post Here’s How XRP Will Be Integrated Into FedNow appeared first on Times Tabloid.