Ripple's open developer platform Xpring has announced it is working on creating a bridge between the Ripple ecosystem and Ethereum.
According to an official blog announcement, Xpring has sponsored three challenges during the Sustain Web 3 virtual hackathon on Gitcoin leading up to ETH Denver. Each challenge is focused on creating interoperability between XRP Ledger (XRP) and Ethereum (ETH) over Interledger Protocol (ILP).
The challenges are still live on Gitcoin until Feb 26, 2020.
"We think the XRP to ETH and ERC-20 tokens bridge is important since XRP is one of the most liquid crypto currencies in the world, but doesn't have a compute layer to support complex smart contracts for the growing Decentralized Finance (DeFi) market on Ethereum," the blog announcement said.
Earlier iHodl reported that British multinational banking and financial services company Standard Chartered Bank appointed Kahina van Dyke a former Ripple Senior Vice President, Business & Corporate Development.
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