Fintech Startup Ripple Debuts New Infrastructure Innovation Initiative

Earlier this week, fintech firm Ripple announced it was launching a new infrastructure innovation initiative. This news comes just a couple of months after the company announced more than 100 financial institutions have joined its blockchain network, RippleNet. While sharing details about the initiative, Ripple stated:

“Ripple is now taking the next logical step to help build the Internet of Value, by establishing an Infrastructure Innovation initiative. We’ll offer our technology products and deep expertise in both payment systems and DLT to enable central banks and market infrastructures to innovate on their own digital journey.  We can provide proven building blocks for both regulators and commercial banks to pilot real-world solutions in collaboration with the Ripple team. We’re excited about the possibilities for innovation — to create regional networks, to reduce the systemic costs of payments, to open up networks to new participants while managing risks tightly with more granular information and smart automation.”

Ripple also revealed that its Infrastructure Innovation team will be led by Dilip Rao, a veteran at Ripple since July 2014. Rao has notably led the business development in the APAC/MENA region and worked closely with banks as well as central banks and market infrastructures.  He has more than 30 years of experience working with banking technology and innovation in payments and understands Ripple’s solutions well. Rao commented:

“My first priority will be piloting interoperability between payment systems, the use of DLT for domestic clearing and settlement and novel applications of xCurrent as well as our digital asset XRP. I look forward to exciting new initiatives in building the Internet of Value in 2018!”

Ripple added it invites central banks and financial market infrastructure leaders to reach out and work with its team on these new frontiers.

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