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Ripple's Xpring Acquires Strata Labs to Develop Interledger Network

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  • Alex Dovbnya
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    Ripple's Xpring invests in a new startup that is focused on building out the Interledger infrastructure

Ripple's Xpring Acquires Strata Labs to Develop Interledger Network
Cover image via u.today
Contents

Ripple's investment arm Xpring has just announced the acquisition of Strata Labs, a little-known startup that works on the development of the Interledger (ILP) network

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A perfect fit for Ripple

Strata Labs is run by Austin King and Dino Rodriguez, two visionaries who started working on their first cryptocurrency startup while still at school. The two created a new company that would allow them to unlock the whole potential of the ILP network.    

Eventually, Austin and Dino decided to dedicate their time to building ILP infrastructure through Strata Labs — a startup focused on building infrastructure and real utility at the intersection of fintech and cryptocurrencies — which we invested in alongside General Catalyst and others.

Following the acquisition, the two-strong team will be moving to Xpring's San Francisco-based office.  

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Increasing accessibility

The Blockchain-agnostic protocol was created by former Ripple CTO Stefan Thomas to connect multiple Blockchains transactions for seamlessly transferring money. 

As reported by U.Today, Xpring also bought Equilibrium Connect at the beginning of August in order to streamline the adoption of Interledger. Now, it plans to open-source Strata’s proprietary code to allow developers to work on their own projects on the ILP network. 

This demonstrates yet another way that Xpring, the open platform for money, is providing developers with the tools, services and programs to make it easier to build on the XRP Ledger and leverage ILP to realize the internet of value.

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Stellar endorsements

Earlier today, the XRP Army spotted a Ripple-related video on Justin Bieber's Instagram. It is worth noting that Ithaca Holdings, which is helmed by Bieber's manager Scooter Braun, received a sizeable investment from Xpring. Braun praised Ripple back in June with the #xrpthestandard hashtag.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies

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    Holding Bitcoin as a collateral is the next big use case for the top cryptocurrency

Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies
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According to cryptocurrency influencer Chris Burniske, both Bitcoin and Ethereum already represent formidable collateral economies.

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Moving beyond a medium of exchange

In his earlier tweet, Burniske also predicts that holding Bitcoin as a collateral could eclipse its medium of exchange (MoE) use case.  

He even goes as far as claiming that Bitcoin could morph into an off-chain collateral for the world. 

Burniske states that Ethereum has already created a burgeoning collateral economy around it. Apart from extending its utility beyond a pure MoE, this could also drastically decrease the coin's volatility because of all DeFi use cases.   

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Ethereum (ETH) Price Undergoes Bullish Consolidation, Says Prominent Crypto Trader

Ethereum (ETH) Price Undergoes Bullish Consolidation, Says Prominent Crypto Trader

The next big thing in crypto

As reported by U.Today, Genesis Capital, a subsidiary of Digital Currency Group (DCG) that rules the roost in the cryptocurrency lending sector, had a record-breaking third quarter with a whopping $870 mln in new originations. 

In Q3, Bitcoin remained the best collateral for crypto with fiat money and altcoins breathing down its neck. The share of USD loans increased by 25 percent quarter-over-quarter.

However, a group of Wall Street traders made a dire warning about crypto lending, claiming that the breakneck speed of its growth could result in another crypto bubble. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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