Ripple’s Interledger Protocol to be Used by Bill Gates Foundation, XRP Launches on Nexo and Omni

The $50+ Billion worth Bill and Melinda Gates Foundation has extended its partnership with Ripple. The Interledger Protocol will be used to send funds to the underdeveloped populations of the world.

The Foundation had initially announced the partnership last year in October that it will use Ripple’s Technology to empower the economically backward countries. An open source software called Mojaloop was released last year by the duo to bank the unbanked.

Now the Foundation has further extended the partnership with Ripple and Coin to explore ways to support “pro-poor payment systems”.

Miller Abel, Deputy Director of the Gates Foundation Tweeted:

We are partnering w/ @ripple and @coil to implement the #Interledger Protocol & explore ways #Mojaloop can support pro-poor payment systems. #githubuniverse

— Miller Abel (@MillerAbel_) October 17, 2018

XRP Backed Loans

The adoption of XRP is further being pushed by companies like Nexo by adding XRP as collateral to get loans up to $2 Million. The company has a community of over 40000 members and has already processed over $1 Billion in loans.

The addition of XRP to their platform will give the Cryptocurrency exposure to its users and could increase the real adoption.

Nexo Tweeted:

XRP-backed loans are now available on the Nexo platform, making us the first and only crypto lender to onboard #XRP as collateral.
Get instant access to cash while keeping the upside potential of your XRP! #HODL #Ripple pic.twitter.com/YmYWSvW5Ov

— Nexo (@NexoFinance) October 17, 2018

Recently Omni, a startup that provides rental services in San Francisco Bay Area and Portland announced that users can withdraw their cash in XRP. Omni had raised $25 Million from Ripple Labs and other investors. The startup is also a part of Ripple’s Xpring initiative.

This provides an alternative way for users to obtain XRP rather than buying it from Exchanges.

Thomas McLeod Tweeted:

Our first (of many) @omni integrations with $XRP, @interledger, and @ripple is live! You can now receive instant liquidity from the rental of an owned asset, and bypass the need for a USD/fiat investment to enter the crypto markets. Welcome to the future!

Also Read:

Ripple’s Chris Larsen Becomes Richest Crypto Billionaire, Enters Forbes 400

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