Ripple is launching a cloud-based payments option for current and prospective clients.
The move is designed to help banks and financial institutions plug into Ripple’s network without the need to spend money on additional hardware or staff.
Clients can utilize the cloud option to enable Ripple’s payment messaging system as well as its XRP remittance platform, known as 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…
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 says the new option allows customers to go live five weeks faster and rely on the San Francisco startup to handle infrastructure maintenance and upgrades.
Ripple Cloud is available to both new customers as well as Ripple’s existing network of approximately 300 clients.