Ripple, the owner of Ripple (XRP) token, with its single market approach has achieved a significant level of growth. As xSpring CEO Daniel Aranda remarked, the team has decided to pursue the development of improved payment solutions and has already established over 150 partnerships worldwide. One of them is with the Bill Gates Foundation, a deal signed in 2017.
Ripple’s partnership with the Bill Gates Foundation
The Bill Gates Foundation is a program that aims to help improve people’s living conditions in several third-world countries but not limited to them. On this road to improvement, the Bill Gates Foundation teamed up with Ripple to use its technology and roll out the Mojaloop innovative software.
According to the World Bank, over 2 billion people are poverty-stricken, most of them due to lack of access to a bank account or other essential financial facilities.
Mojaloop is an open source application that can be adapted and used very comfortably by banks at low costs and with little hassle. During the development phase of this software, the project was financed by the Bill Gates Foundation and was established by FinTech enterprises, Ripple included.
The interoperability of digital payments has been the most difficult hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution
Kosta Peric, Deputy Director of Financial Services at the Bill Gates Foundation
What the partnership with Bill Gates Foundation means for Ripple (XRP)?
As the Gates family privately owns the Bill Gates Foundation, the venture can quickly take the technology and uses of the blockchain to new heights. That signifies that the partnership with Ripple would not just impact the company and its blockchain and platforms, but also the Ripple (XRP) token.
Earlier, the Ripple (XRP) has crossed the $0.5000 level recording an 11.18% increase, but, at the moment of this writing, XRP returned slightly below this mark, as it is now trading at $0.496