Ripple's Ready to Invest in Startups, That Use XRP

This is said by the CEO of Ripple at Money2020 in Singapore
13 March 2018   1042

Ripple is planning to invest in projects, the organizers of which would like to use the XRP cryptocurrency in their products. This is reported by TechCrunch with reference to the statement of CEO Ripple Bred Garlinghouse.

According to him, Ripple continues to concentrate its efforts on the development of products for the banking industry, but this does not prevent it in passing to seek alternative uses for its crypto currency.

We, Ripple, will stay focused on solving that institutional use case, but we would certainly partner with companies that are looking to use XRP in lots of different ways.
 

Bred Garlinghouse

CEO, Ripple

As he said, the American start-up Omni perfectly fits into this plan. In January, Ripple and two of its executives invested $ 25 million in Omni, when the startup agreed to use XRP in its products.

The small popularity of XRP as a payment instrument with Ripple's close interaction with the traditional financial system has long been a source of discontent for critics. The assumption that payment services are in no hurry to integrate XRP because of the volatility of the crypto currency, Garlinghouse called "fake news".

He drew attention to the fact that the translation using XRP takes a few seconds - the probability of a sharp jump in the rate during this time is minimal. Nevertheless, the question of why banks use Ripple blockchain, but do not use XRP, remains open. Garlinghouse is confident that eventually everything will be set in order.

R3’s New App to Support XRP Payments

Corda Settler is a opensource application in the CorDapp pack and makes it possible to make payments for payment obligations in the Corda networ
06 December 2018   130

Banking blockchain consortium R3 has announced the launch of the Corda Settler application for international cryptocurrency payments in corporate distributed networks. The first supported digital asset in the application is the XRP token, CoinDesk reports.

The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together. While the Settler will be open to all forms of crypto and traditional assets, this demonstration with XRP is the next logical step in showing how widespread acceptance and use of digital assets to transfer value and make payments can be achieved.
 

Richard Gendal Brown

CTO, R3

Corda Settler is a opensource application in the CorDapp pack and makes it possible to make payments for payment obligations in the Corda network through any parallel means supporting cryptocurrency, crypto assets or traditional payment mechanisms that can provide cryptographic confirmation of the fact of settlement of transactions.

In particular, the application verifies the transfer of the expected amount to the recipient’s account, automatically updating the Corda registry. Also in the developers' plans is the addition of support for deferred netting of transactions and settlements on pre-established amounts in real time.

When a payment obligation arises in the Corda system, one of the parties may request payment in XRP tokens. The other party will receive a notification of such a request and that it must configure the payment to be sent to the specified address before a certain date. As soon as the oracle service confirms the payment, the parties may consider the obligation fulfilled.

Application support for the XRP token may seem somewhat unexpected if we recall the recent court proceedings between R3 and Ripple, but a source close to the situation claims that the disagreements did not have anything to do with it. The very launch of a new payment mechanism, he said, should give greater legitimacy to cryptocurrencies.