XRP has taken another major step towards worldwide legitimacy and acceptance after it was confirmed that Abra would soon support XRP on its platform. Abra is an unsupervised crypto wallet and a dedicated investing app which boasts an impressive thirty different crypto-asset investment options.
The news surfaced just after it was announced by Abra that the organization’s crypto platform will soon offer users the option to purchase stocks of blue-chip companies like Amazon, Facebook, and Netflix using Bitcoin. The announcement was a huge win for the Bitcoin community as the proposal significantly pushes Bitcoin’s status further forward into the cryptocurrency universe.
Alongside the stocks, the users will also be able to place the order for Exchange traded funds (ETFs) via Bitcoin. The company also promised to add more global assets in the future.
Talking about the development, the CEO of Abra, Bill Barhydt said that:
“Our vision for Abra is to create a single app that serves as the go-to investing app for the globe, This is just our first announcement, over time you will see other services in the banking arena to democratize access to financial service.”
As soon as this announcement was released, it was received like wild fire by millions of cryptocurrency users globally, especially those belonging to the community who supported XRP and who could not wait to approach Abra’s CEO for the native acceptance of their beloved XRP on Abra.
One certain Twitter user @XRP_nation put forward the aforementioned query to Abra’s CEO on the social media. The CEO replied in the affirmative while suggesting that no exact date has been set.
As Abra plans to add XRP to their list, it is also interesting as to when the official date of native XRP adoption will be revealed. At the time of writing, the price valuation was a relaxed state with a slight upscale. As per the data from Coinmarketcap, XRP is the 2nd largest cryptocurrency in the market with a market cap of $12,229,552,355. It is presently valued at $0.29 and has gained 1.25% percent over the past 24hrs.
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Ripple’s initiative invests in Bolt Labs to improve secondary payment channels and expand interoperability
Ripple’s arm, Xpring which invests and incubates in companies and individuals which help improve the XRP ecosystem, invested in Bolt Labs. With the new investment, Xpring hopes to develop solutions that will help improve the security of secondary payment channels and increase the interoperability by integrating with the ILP.
Bolt is a private, off-chain scaling solution which was built on top of Z-cash, a privacy-focused cryptocurrency, has attracted more than a few well-known investors in the crypto-space and Ripple’s Xpring is one among them. In a blog, Bolt Labs said that their solution will focus not only on ZCash but also other publicly available cryptocurrencies that do not have inherent on-chain privacy features.
It also stated:
“The potential for these implementations to be networked together with technologies like Interledger opens the potential further for cross-chain interactions with these privacy guarantees baked in.”
The above statement suggests that they might have a “potential” implementation for these on Interledger Protocol [ILP]. ILP was created at Ripple developed by the Interledger W3C Community Group. ILP aims at connecting two different blockchains, to integrate two different ledgers and have seamless operations between them.
This would vastly benefit the payments industry, which is facing a revolution at the hands of a nascent technology like blockchain. Ripple, a payments provider, which is leveraging cryptocurrency and blockchain to facilitate faster payments, would benefit largely from this partnership. In addition, this could also signify a potential development on the XRP Ledger and its on-chain/off-chain privacy and the currency, XRP.
A Twitter user @XRPCentre tweeted:
“If the solutions being developed by the company are able to improve the privacy of the ILP transactions, they would also be enhancing the privacy of XRP/ILP payments, which is a very demanded feature…. It’s all about interoperability and destroying network effects. If ILP succeeds in being the best protocol for cross-protocol/ledger transactions, you’d naturally search for the best asset therein.”
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