Ripple Expands Its XRP Ledger Development With Xpring's Acquisition of Strata Labs

Ripple's Interledger (ILP) network should see a boost in growth and adoption after Xpring brings on Strata Labs with the thought of open-sourcing their tech. Adding in the recent acquisition of Equilibrium Connect, the XRP network should expand.

Ripple’s Investment arm, Xpring, has acquired Strata Labs to facilitate the Interledger Network development within its ecosystem. The crypto payments-oriented firm is looking to increase its blockchain accessibility as more clientele join the industry for money transfer solutions.

Strata Labs is a crypto startup focused on designing Interledger Protocols for smooth integration with payment systems. The firm was started by Dino Rodriguez and Austin King while they were University students and has since evolved to serve the existing ILP niche. Ripple’s acquisition is therefore no surprise given the rise in demand for ecosystems that support digital payments. Furthermore, open protocols have created a platform for creativity and innovation to solve FinTech inefficiencies.

Former CTO of Ripple, Stefano Thomas, had built a blockchain agnostic protocol that can integrate a number of blockchain networks to ease money transfer. As a result, Ripple bought ILP oriented, Equilibrium Connect, in August to smoothen its Interledger adoption. Strata being the latest acquisition is expected to supplement the existing features through its open-source protocol. Developers will be able to create their own projects within XRP’s ecosystem supported by the Interledger Network.

The move will see Strata Labs shift its operation to San Francisco where Xpring’s offices are based. Both Ripple and Strata Labs stand to benefit from the move; the latter will get more support and a wider exposure while Ripple leverages their expertise in ILP development.

Ripple’s Swell Event in November

Ripple’s upcoming Swell event to be held in Singapore on the 7th and 8th of November has caused speculations of a price surge by the XRP crypto coin. The event is held annually and aims to bring together policy makers, FinTech and Financial service providers to reflect on the developments within the digital payment arena. This year’s event will have prominent guest speakers such as Dr. Raghuram Rajan who formerly worked as India’s Reserve bank Governor and a Chief Economist in IMF.

Ripple (XRP) Live Price

1 XRP/USD =$0.1907 change ~ -3.88%

Coin Market Cap

$8.26 Billion

24 Hour Volume

$181.39 Million

24 Hour VWAP

$0

24 Hour Change

$-0.0074

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Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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