Ripple Boosts XRP Ecosystem: Important Crypto Payment Processor Adds Support For The Coin

It seems that Ripple and XRP are making headlines again in the middle of a crypto market correction.

The San Francisco-based company has been making huge efforts to boost the XRP ecosystem and now Xpring adds new players in the crypto space to the XRP developer community.

It’s been reported that Ripple launched the Xpring platform, but now the company is also teaming up with the leading crypto payment processor BitPay.

This will allow the BitPay wallet and prepaid cardholders to spend XRP with any BitPay merchant.

Ripple is backing a new decentralized trading platform

Ripple is also reportedly backing a new decentralized trading platform which has the main focus of revamping the derivatives markets and allows trades to run automatically over peer-to-peer networks.

The startup is called Vega, and it has just raised $5million in seed funding. Investors include Pantera Capital and Ripple’s Xpring.

The platform is joining a growing ecosystem of decentralized finance tools that have the main focus of eliminating middlemen and corporate controls.

Vega founder Barney Mannerings stated the following:

“We support the right to collaborate and trade freely. Privileged institutions and gatekeepers have for too long kept the financial system rigid and rigged in their favor. It is neither desirable nor necessary for market participants to be subject to profiteering, monitoring, and control by those privileged institutions.”

The official announcement details some of the key features of the platform.

Ripple is rebranding its products

Other than this, Ripple is in the middle of a rebranding process.

It’s been reported that the San Francisco-based company removed almost all the references to the three main cross-border payment products from the website: xCurrent, xRapid and xVia.

It’s also worth noting that  xRapid, the XRP-based payment solution seems to have been rebranded, and now Ripple uses the term “On-Demand Liquidity.”


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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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