Ripple has introduced its new payment product available for public testing. The demo includes real-time transactions using the dollar-pegged stablecoin RLUSD and the cryptocurrency XRP as a bridge asset.
Overview of the New Demo Product
Ripple has launched an interactive demo showing live transactions, currency conversion, and settlement flows. This demo focuses on Ripple USD (RLUSD) and allows users to track how funds move from sender to receiver without relying on opaque processes.
Technological Advantages of Registration
The demo interface allows users to view quotes, fees, and expected delivery times in real-time. Users can send RLUSD and convert it to local currency, such as pounds, at the destination. Audit tools are also available: transaction history, payer and beneficiary information, and downloadable reports. This aims to reduce reconciliation work and shorten settlement times across more than 50 supported countries.
Prospects for Adoption and Competition
Competition in the stablecoin and payment systems is intensifying as companies like Circle and Stripe develop their own blockchain products. Ripple anticipates that demand for its product will depend on policy clarity, counterparty controls, exception handling, and uptime. Pricing alone will not dictate outcomes.
The Ripple demo offers users and institutions the chance to familiarize themselves with the product and test various aspects before full integration. However, the success of adoption will depend on several factors, including political and market conditions.
