Ripple Video On How Banks Can Flip a Switch to Enable XRP Transactions

The structure of RippleNet allows financial institutions to upgrade payments in stages, then activate XRP liquidity when corridors are available.

In a presentation, Evernorth CEO Asheesh Birla explained how Ripple’s products connect. His explanation was shared by Average John Evernode (@AverageJohnEVR), who argues that xCurrent is not dead and connects to XRP through Ripple’s liquidity solution.

Birla began by describing how many international payments still operate. He said companies send payment instructions by dropping files into an FTP server, which “takes three to five days to process.” He explained that companies must hold foreign currency in destination accounts before a payment. This setup locks capital in foreign accounts and slows settlement.

Ripple plans to unlock this idle capital and has built RippleNet to replace file transfers with API connectivity between institutions. This allows payment information to move instantly between parties.

xCurrent as the Network Layer

Birla explained that Ripple’s products work together through a single connection. He said xVia provides “one standard connection” into RippleNet. Through that connection, institutions use xCurrent for payment messaging, confirmation, and settlement communication between financial institutions.

He explained that institutions using xCurrent still need foreign currency in a Nostro account if they do not use xRapid. However, they gain faster processing and direct connectivity through modern APIs.

This improves the payment process while retaining the traditional liquidity structure. This is the foundation that allows XRP liquidity to be added later without changing the core connection.

XRP and On-Demand Liquidity

Birla said the key upgrade comes when xRapid is added in supported corridors. He said companies can “move money on demand using XRP.” He then described the transaction flow. US dollars are moved into a partner exchange and converted into XRP. The XRP moves across the border, converted into local currency, and is paid out through a RippleNet partner.

Birla used Mercury FX as an example. He said institutions “get reach wherever xCurrent is available,” and when xRapid is active, XRP provides liquidity for settlement. This shows xCurrent handles messaging while xRapid uses XRP for liquidity.

Evernorth and Institutional XRP Strategy

Birla is now the CEO of Evernorth, a company focused on building an institutional XRP treasury and financial services around XRP. His previous role at Ripple included work on RippleNet and On-Demand Liquidity, the system that uses XRP for cross-border settlement.

His explanation of RippleNet shows that institutions can connect through xCurrent first, then activate XRP liquidity through xRapid when corridors support it. This approach allows financial institutions to adopt RippleNet infrastructure first and enable XRP liquidity through the same connection when available.

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