XRP Mass Adoption: Ripple Launches A Cloud Payments Platform
Not too long ago, Ripple CEO Brad Garlinghouse said that the US is at risk of falling behind China in the competition to launch a powerful digital economy considering the rapid advancements in payments tech.
Garlinghouse hopped on Twitter and said that the policymakers in the US would have to step up the game in order to be able to compete.
Ripple launched a cloud-based payment option – RippleNet Cloud
According to the latest reports, Ripple launched a cloud-based payment option for current and prospective clients.
The move is designed to help banks and financial institutions to work with Ripple’s network without having to spend money on more hardware or staff.
Clients will have the ability to use the cloud option in order to enable Ripple’s payment messaging system and its remittance platform ODL.
“RippleNet Cloud allows customers to send and receive payments with one integration and a common Ripple Payment Object (RPO) amongst all customers on RippleNet—meaning less friction and more standardization when customers are ready to scale…” according to the official notes.
The same notes continue and explain that “RippleNet Cloud also makes it easy for financial institutions to add alternative settlement through On-Demand Liquidity. Cloud customers can also maintain and make new connections more easily, through one API for all of their RippleNet connections.”
Ripple pushes for XRP adoption
According to Ripple, this new option is allowing customers to go live five weeks faster and rely on Ripple in order to handle infrastructure maintenance and upgrades as well.
Other than this, Ripple has been working really hard to boost the complete XRP ecosystem and also to push the mainstream adoption of XRP.
Speaking of XRP, in terms of pricing, at the moment of writing this article, XRP is trading in the green and the digital asset is priced at $0.204778.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.