XRP Unveiled: Key Ripple Partnerships and Exciting Developments You Might Have Overlooked

In the most recent XRP updates, Ripple is allegedly collaborating with Stellar as both companies aim to transform the payments sector. This development surfaced as crypto analyst ProfRippl underscored the connection between both organizations through the International Rescue Committee (IRC). 

Ripple Allegedly Collaborating With Stellar

In an X post, ProfRippl disclosed that Ripple and Stellar are joining forces. This revelation occurred as the crypto analyst pointed out the IRC’s ties to both crypto enterprises, suggesting that this was what facilitated the collaboration between Ripple and Stellar. Notably, Ripple and the IRC had partnered to consider using the crypto company’s payment solutions for charitable contributions. 

Meanwhile, Stellar previously discussed how IRC allocated monetary assistance to Ukraine via its ‘aid assist’. ProfRippl then brought up the potential for other IRC associates to utilize Ripple and Stellar’s payment solutions for international transactions. The IRC has collaborated with entities such as the Bloomberg Foundation, Google, and the Citi Foundation, among others. 

Meanwhile, ProfRippl also attempted to establish a connection between Ripple and former U.K. Prime Minister Tony Blair, who is said to have strong ties with IRC’s CEO David Miliband. Based on this, the crypto analyst proposed that Ripple’s technology could readily be embraced as nations strive to integrate cryptocurrencies into their payment systems. 

Meanwhile, in yet another X post, the crypto analyst emphasized how Ripple and Stellar support each other rather than being outright rivals. ProfRippl remarked that Ripple’s XRP Ledger guarantees secure cross-ledger transactions while Stellar provides multi-currency routing and inclusive tokenization. 

ProfRipple additionally referred to articles that characterized Ripple and Stellar as layered frameworks that fulfill distinct but complementary roles. It is noteworthy that Stellar’s Jed McCaleb was among those who established the XRP Ledger alongside Ripple’s CTO David Schwartz and Arthur Britto. 

Similar to Ripple, Stellar also offers cross-border payment solutions utilizing its native token XLM. Conversely, Ripple employs XRP to fuel its payment systems, with the altcoin acting as a bridge currency between sender and receiver. 

Fed’s Waller Offers Significant Support For Ripple 

In another recent advancement, Federal Reserve Governor Chris Waller provided significant support for Ripple, indicating that the Fed staff were investigating a ‘payment account’ to facilitate payment innovation. The payment account will grant stablecoin issuers like Ripple access to the Fed’s payment infrastructure, enhancing their operations. 

It is important to note that Ripple has already requested a Fed master account, although there is no timeline for approval. Nonetheless, Waller disclosed that the payment account will feature a quicker review timeline, implying Ripple may not have to wait for the Fed master account’s approval before utilizing the Fed’s payment infrastructure. This development coincides with the crypto company’s ongoing expansion of its services, including its partnership with South Africa’s Absa to deliver digital asset custody services. 

Featured image from Peakpx, chart from Tradingview.com

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