PaymentRipple

Earthport Debuts Distributed Ledger Hub Facilitating Ripple Connections Between Banks

UK-based cross-border payment network Earthport announced on Tuesday the launch of the Distributed Ledger Hub (DLH), an API facilitating banks’ connection to the Ripple distributed ledger platform.

The DLH is a service accessed through Earthport’s Distributed Ledger Gateway, launched in August of 2015, that will provide connectivity with Ripple, including private Ripple instances, Ripple market makers, and eventually other distributed ledgers.

The platform was developed for banks that seek to benefit from the speed and reliability of the Ripple network, but that need to overcome the limitations posed by legacy technology or compliance issues.

Earthport’s team highlighted the benefits of the service:

The extended service will simplify and accelerate the adoption and implementation of Distributed Ledger Technologies for the banking community – allowing banks to swiftly move into this new world of payments without additional heavy investment in infrastructure, compliance or operational requirements. This is achieved via full access to the Ripple ecosystem through a single contract, a single technical integration, and a single service relationship.

Hank Uberoi, CEO, Earthport, commented

It is our belief that there may be different ledgers that gain traction over time – some will have a regional affiliation, and some may be more aligned by industry sector. Banks will need to have access to a growing universe of different ledgers to serve their own clients, further complicating their technical roadmaps. Earthport, in consultation with its clients, will grow the Hub to encompass different ledgers as needed, all available via a single Earthport API.

Customers will be able access a network in over 60 countries through Earthport’s API, enabling rapid, cost-effective transfers in fiat currencies.

Journalist, policy analyst, and evangelist of new, disruptive technologies including big data analytics, Internet of Things, and cryptocurrencies. Internet industry veteran with regional c-suite experience, and journalist credentials earned at internet.com, Internet World magazine, and Mecklermedia Corporation.
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