Ripple has been making intense efforts lately to promote the adoption of its products. The San Francisco-based company has also been enjoying more partnerships and the digital asset XRP saw more listings.
Even if things are not going at the planned rapid place, they’re still moving in the right direction for Ripple.
And regarding the digital asset XRP, more and more crypto experts believe that the coin is still very undervalued.
The great news is that after Ripple’s latest achievements XRP’s price is expected to surge.
Launching the first fiat InterLedegr Protocol connector
The development team at Ripple just launched the first fiat InterLedger Protocol (ILP) connector. This is expected to be a massive step towards interoperability with traditional financial systems and it’s also likely to gain significant adoption.
During the ILP Summit 2019, the team who developed the ILP including Vanessa Pestritto launched the first ILP-Fiat connector.
In a presentation that was made by Stephen Thomas, the co-founder of InterLedger, a streaming payment demo managed to make a good impression at the summit.
EthereumWorldNews reports that the payment method impressed the audience at the event.
According to XRP Research Center, the ILP fiat system “could be a huge step forward towards interoperability with traditional systems and critical mass adoption.”
Vanessa Pestritto, director at Xpring, posted about the event on her Twitter expressing her excitement of this adoption driving development. You can see her tweet below.
#StreamingPayments @Interledger #demo by @kava_labs @KevinJYDavis swap BTC, ETH and XRP using Interledger SDK Switch pic.twitter.com/e3qpD0xzEQ
— Vanessa Pestritto (@vanessadice) April 5, 2019
The best thing about the launch of the ILP is that it could make it much easier for financial institutions to deal with crypto and fiat.
ILP to become a global payment system
David Schwartz, the Chief Technological Officer at Ripple, is convinced that the ILP would eventually become a global payment system.
Back in 2018, Schwartz said, “by connecting bank ledgers and existing infrastructure investments via ILP, banks are taking the first steps in improving global payments today — and in enabling a true Internet of Value.”
