Ripple has been living true to its motto of promoting cross-border payments with low transaction fee lately with a barrage of partnerships and other developments. Last week, Ripple-backed remittance providers such as InstaReM and MoneyNetint made the news by partnering with banks in order to simplify cross-border transactions. After the partnership between BeeTech with Ripple-backed MoneyNetint, another Brazil-based exchange broker, Frente Corretora de Câmbio or The Front Exchange has partnered with Ripple to launch ‘Simple’, a platform created to cater international remittance and tourism exchange.
As cited on the exchange’s website, The Front launched the Simple platform for providing remittance and tourism exchange in partnership with Ripple. Simple will enable Brazilians to make cross-border payments, starting June 2019.
Carlos Brown, the co-founder of Front Exchange, commented on the launch of Simple and said,
“Simple’s user is the average citizen, who has a child living outside the country, for example. This public does not make large remittances, it is a money for the family, and this percentage charged by the institutions ends up swallowing a very large part of the value.”
Brown further claimed that the platform would not charge any transaction fee, but will be based on the gain of spread that the transaction delivered. The correspondents associated with the exchange would act as a FinTech, which would help in the growth of operations. Brown stated:
“We want to win with a high amount of operations and not with a very high spread, like traditional financial institutions.”
The Front Exchange recently opened a representative office in Miami and is looking forward to set-up two more representative offices in Boston and New York. The Central Bank ranked the broker exchange as the 15th largest currency brokerage in Brazil. With the partnership with Ripple and the launch of Simple, the exchange is expected to climb to the fifth place by the end of the year.
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Ripple’s XRP Ledger Dev Portal unveils updated version of WebSocket API Tool
Ripple XRP Ledger Dev Portal revealed an updated version of the WebSocket API Tool. The latest development in the Ripple ecosystem will enable users to directly communicate with rippled servers, which is responsible for powering the XRP Ledger Network.
An official post detailing the WebSocket update stated that the tool has been incorporated with unique functionalities to the existing tool structure. The “refreshed tool” which was launched as part of the recent site relaunch, allow users to choose which servers to connect, which will include public servers that Ripple operates, XRP Test Net servers or any server that the user locally runs on its computer. This feature is called Server Selector.
The refreshed tool provides options to connect to Ripple’s general-purpose public XRP Ledger servers, full-history public servers, Test Net servers, or to your own server running locally. This list can also change to provide more options in the future.
Another feature incorporated in the latest update is the new Permalink button. The button provides a link wherein users can use to share the current state of their inputs, which includes the request body and the selected server. The official post detailed that the Permalink feature is similar to other web tools such as JSFiddle or CodePen, which “provides a way to prepare a set of inputs and share it with others.”
Another feature is the curl Syntax Button, represented by “>_ ” icon. The button is designed to load a popup with the current inputs of the request box, which is converted into a JSON-RPC call which can be made with the curl utility.
To eliminate simple syntax errors, the upgraded tool has incorporated a feature called Error Highlighting, which as the name suggests, highlights lines with errors by placing red circled X marks.
The Message History Management will display all types of messages in one single stream, which maintains a history of the user’s previous calls until the page is closed or a different server is selected or the history is cleared by selecting the “Clear History” button. The blog further detailed,
“The amount of history the tool keeps at a time isn’t unlimited, which is another change from the previous version. By default, any time the tool receives a new message, it deletes any messages older than the most recent 50, though you can set this to be any amount you like.”
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