Eduard Watson

2 weeks ago

Ripple has been making huge efforts to boost the XRP ecosystem.

Xpring invests in Flare Networks

Ripple’s fundraising and development arm Xpring invests in Flare Networks – this move will reportedly enable “smart contract capability” for the XRP Ledger.

The company revealed the latest investment via a new press release that addresses the Flare Network’s effort to use the Ethereum Virtual Machine (EVM) to allow public and private networks to integrate smart contracts.

“Flare’s native token will be an algorithmic stablecoin created in part by burning XRP, and payments for a contract can be made and received in XRP via Interledger, which will be integrated with Flare,” according to the press release.

The notes continue and say: “Flare will also use the XRP address and encryption system to provide XRP users with a virtually seamless way of interacting with smart contracts on the Flare Network.”

Developers can use XRP Ledger in new ways

According to Ripple, the investment will offer developers the ability to use XRP Ledger in new ways and boost the company’s mission to push the adoption of XRP beyond the world of payments.

“Users and developers would like to leverage XRP in more use cases, and the Flare Network will enable this capability for more companies and developers eager to leverage XRPL for their needs.”

It's been also revealed that Flare Network is currently in the testing phase with some of its first partners that include the following: Securitize, Singularity, BuenoBit, Neuhanse Network and many more to be announced.

XRP usage is explored further

In other news, ads coming from the payment company TransferGo are popping up in London.

TransferGo uses Ripple's payment messaging system, which was known before as xCurrent.

More than that, another achievement worth mentioning is the fact that MoneyGram plans to expand its partnership with Ripple, using the XRP-based cross-border payments solution.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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