Ripple’s Xpring aims to make XRP the internet of money 🚨 This article is 5 years old...
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Ripple’s Xpring aims to make XRP the internet of money
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Updated: Nov. 8, 2019 at 10:21 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Xpring, an initiative by Ripple, is launching a platform to provide tools, services and programs for developers to easily build applications with payment gateways using fiat and crypto, particularly XRP.
In an interview with Forbes, the senior vice president at Xpring, Ethan Beard, said that the platform will be directed at developers not only involved in blockchain, but to “all the 23 million developers around the world.” It aims to open the gates for anyone to create applications on top of the XRP Ledger leveraging the Interledger Protocol, an open network for sending payments across different blockchains.
“Ultimately, we want the Xpring Platform to bring money to the Internet at the same core level as text, images and video [do] today,” added Beard.
The move comes after more than a year since Ripple announced the creation of Xpring. Throughout this time, the team learned from different partners and investors that people “were looking for more than just investments.” They were actually interested in developing the XRP ecosystem and to do that, it must be easy to build on top of this technology to allow real world problems to be solved.
“Xpring Platform for developers is designed to remove the pain and the messiness of integrating money into apps,” said Beard.
Work from Xpring is mostly related to XRP. The coin recently received one of the highest scores by the Crypto Rating Council due to its likelihood to get classified as a “security” by the U.S. Securities and Exchange Commission (SEC). As regulatory uncertainty around XRP increases, Beard has explained that Xpring does not necessarily need the coin to function.
“Everything we’ve built and released is open-sourced, so you can do with it what you please,” concluded Beard.
It remains to be seen whether Xpring and Ripple can push for adoption of its newly-created developer platform to stimulate growth on top of XRP. And so far, some of the most prominent companies in the industry are already showing their support.
In fact, BitPay, one of the largest crypto payment providers in the world, announced a partnership with Xpring to allow businesses to accept XRP for payments. According to Sean Rolland, director of product at BitPay:
“BitPay customers are leveraging the promise of blockchain payment technology and with XRP can offer a payment option that is fast, cost-effective and scalable. The addition of XRP as the next blockchain asset supported by BitPay expands blockchain choices across the payments space.”
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XRP
$0.52501
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.
Xpring
Xpring Platform is the open platform for money that provides tools, services and programs that make it easy for developers to integrate payments into their applications.
BitPay provides bitcoin and bitcoin cash payment processing services for merchants, and is one of the largest bitcoin payment processors.