The USB 3.0 Promoter Group has announced that it has completed work on USB 3.1 Specification. The new standard will cap transfer speeds at 10Gbps, and will be fully backward compatible with USB 2.0 and USB 3.0 devices, albeit at their theoretical transfer rate caps.

According to USB 3.0 Promoter Group, the specification team has worked hard to make sure that the changes made to support higher speeds were limited and remained consistent with existing USB 3.0 architecture to ease product development.

The first devices with USB 3.1 standard are expected to be available in late 2014.