Ripple has launched an open global developer platform that offers tools and programs to integrate the XRP Ledger and Interledger Protocol into any app. Developers will be able to use the platform to move money, empowering users to send and receive payments in any currency, across any network.
Ripple says the new open platform will unlock economic value by reducing payments from days to seconds and by removing “a maze of siloed networks” that make up traditional payment rails built decades ago.
“Simply put, Xpring is designed to remove the pain of integrating money into apps – whether it’s US dollars, Philippine pesos, XRP, ETH or any currency. Xpring builds on open source, open protocols and open networks making easy for the 23 million developers worldwide to enable payments in their products and services.”
“In the same way the Internet unlocked economic growth through democratization of information, the IoV (Internet of Value) will unlock economic value through global access to and digitization of money.”
Ripple says the IoV has the opportunity to enable billions of people around the world to instantly make transactions and increase financial inclusion for millions of unbanked consumers. In order to realize this potential, the new platform allows developers to leverage Xpring’s ecosystem, boosting XRP.
According to the announcement,
“XRP has the fastest and most scalable settlement of any top digital asset and a proven use case beyond an alternative store of value – cross-border payments via RippleNet. When paired with ILP, XRP bridges the gap between any fiat or digital asset and forms a universal, ubiquitous way to make payments. Developers who build with ILP experience infinite scalability and are not locked into a single crypto ledger. Together, ILP and XRP enable trading in cross-blockchain transactions, micropayments, and web monetization for an array of industries like media and gaming.”