Bill and Melinda Gates Foundation recently announced that it has officially extended the partnership with Ripple. According to the official message, the Foundation will use Ripple’s Interledger Protocol to send funds to the underdeveloped populations of the world.
The major foundation reportedly worth over $50 billion, announced about partnering with Ripple back in October last year. The earlier announcement had confirmed that the foundation would be using Ripple’s Technology to empower the economically backward countries.
Followed by the official announcement on the new partnership back then, open source software called Mojaloop was developed. The two partners released the new software last year. It reportedly aims at “banking the unbanked”.
According to the new development, the two sides will now be exploring ways to support “pro-poor payment systems” together. Deputy Director of the Gates Foundation, Miller Abel took Tweeter to share the recent development. The original message reads: “we are partnering with Ripple and Coil to implement the Interladger Protocol & explore ways Mojaloop can support pro-poor payment systems”.
More Developments for Ripple
Meanwhile the successful extension of the cooperation with the major foundation has not been the only positive development for Ripple recently. Nexo officially added Ripple’s XRP. The digital coin will reportedly be used as collateral to get loans up to $2 Million.
Nexo tweeted about the new addition on the company official page. The message stated: “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!”
In addition, a startup providing rental services in San Francisco Bay Area and Portland, Omni announced that they officially accept XRP. According to the message, users can withdraw their cash in XRP. Omni had previously raised about $25 Million from Ripple Labs along with other investors. The promising startup is also a part of Ripple’s Xpring initiative.
Thomas McLeod from Omni commented on the recent support. His original tweeted stated: “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!”