Ripple, the Brad Garlinghouse led cryptocurrency organization has always followed a pattern of creating partnerships and tie-ups with multiple fintech firms across the globe. Apart from having its own native cryptocurrency, XRP, the parent company has ensured that creating new networks is always a topmost priority.
A recent interview with Ripple Head of Social Impact Ken Weber shed light on the organization’s latest venture- taking the Mojaloop Foundation to new heights. The Ripple official spoke about Mojaloop was working as a charitable organization to support the deployment of the native open-source software.
Weber plays a big role in expanding Mojaloop’s reach by serving on the firm’s board of directors. According to him, creating economic fairness and opportunity for the unbanked and vulnerable populations was a key mission. Since Ripple has always been invested in cross-border transactions, it makes it easier to provide an infrastructure for Mojaloop to use. During the interview, Weber stated:
“Ripple is proud to continue to collaborate with fellow Mojaloop Foundation Sponsor members in working towards a more inclusive future where everyone, everywhere can access digital financial services needed to connect to the global economy. Ripple’s founding vision is to enable the world to move value like information does today—a concept we refer to as the Internet of Value (IoV).”
Ripple revealed that they would target the 1.7 billion strong unbanked population spread across regions like sub-Saharan Africa, the Middle East, Latin America, and Southeastern Asia. The San Fransisco based organization plans to make use of the rising use of mobile phones and digital wallets, paving the way for greater innovations.
Ripple will work in tandem with Mojaloop to initiate on-ground partnerships such as those with entrepreneurs and developers. This relationship will then be extended to collaborate with mainstays like central banks, financial institutions, and NGOs. Mojaloop has clarified that the onboarding Ripple as a board member will be the first step in creating a seamless connection with technical progress and charitable targets. Ken Weber assured people that stakeholders all across the world will have access to resources from the two companies that will enable them to take their mission forward.