Ripple Labs Investing Heavily In Payment Technologies

Ripple Labs Investing Heavily In Payment Technologies

Ripple, cryptocurrency and payment protocol is currently investing in a few different payment technologies based on the blockchain technology. Ripple recently announced a partnership with Finastra, the world’s third-largest fintech firm formed in 2017.

“Ripple and Finastra have teamed up to offer Ripple’s blockchain technology through Finastra’s payment solutions to support fast cross-border payments’” Was noted in the official announcement.

This partnership will allow Finastra’s customers to connect and transact with the huge RippleNet that connects over 200 financial institutions. This will provide faster and cheaper payments that are far more reliable. This partnership will allow customers to send payments internationally with end-to-end tracking and visibility of the delivery time, fees and status.

Additionally, Ripple’s developer initiative, Xpring made an investment yesterday into a Swedish startup called Towo Labs. This recent investment will support the development of the hardware wallet firmware that will support XRP. The wallet will also enable all XRPL transaction types and will have a full XRPL support for Ledger and Trezor hardware wallets.

According to the announcement, this investment will also support the second project that Towo Labs is working on, a new version of the XRP Toolkit that was in fact, created by the founder of Towo Labs, Markus Alvila. There are other projects from Towo Labs coming out in the near future but will be announced later as they are currently trying to register with the Swedish Financial Supervisory Authority.

It seems that Ripple is heavily investing in cryptocurrency wallets to boost XRP adoption. The company also partnered with another blockchain payment provider in October called BitPay. This partnership will allow businesses to accept XRP for payments through BitPay’s platform. Additionally, Bitpay Wallet users and Prepaid Cardholders can send or store XRP easily.

It seems that the bulls are taking notice of these partnerships and investments as XRP is currently hovering around the $0.30 area after a great performance over the last few weeks.