Ripple’s subsidiary Xpring has invested in a brand-new startup called Equilibrium Connect. In such a way, the San Francisco-based crypto behemoth wants to solve the main pain points of the Interledger, the Blockchain-agnostic payment protocol.
Stepping into the breach
After emerging from hiding, Equilibrium Connect has revealed that it will focus on creating open source developer tools for the Interledger ecosystem.
Interledger, which was created by Ripple’s former CTO Stefan Thomas, strives interconnects all Blockchains and other value networks to exchange money without any limitations. Despite its ambitious goal, the project struggled with adoption (big time).
According to Equilibrium Connect founder Teemu Paivinen, there is not enough liquidity in the project with very few participants. Hence, Interledger isn’t able to function properly until it gets off the ground.
Making Interledger accessible
Equilibrium Connect has a three-pronged approach to making Interledger more accessible.
The company will build a multi-currency connector that is capable of routing payments across any system on a global scale. From the outset, the connector will support three major cryptocurrencies – Bitcoin, Ethereum, and Ripple’s very own XRP.
Equilibrium Connect work on a web API that will allow to seamlessly interacting with the Interledger network while also implementing straightforward on-boarding solutions.