Gates Foundation is Partnering with Ripple

The largest private foundation in the United States, Bill and Melinda Gates Foundation, that was created to enhance healthcare and reduce extreme poverty around the globe, has partnered with Ripple payment protocol to make cross-border money transfers easier to send money to underdeveloped nations.

Miller Abel, Gates Foundation deputy director, has commented that Ripple and Coil, founded by Stefan Thomas, the former Ripple CTO, a web platform that uses an open API called Web Monetization in order to pay content creators in real-time, will use the partnership to get donations to those who are need.

Abel posted on Twitter:

“We are partnering w/ @ripple and @coil to implement the #Interledger Protocol & explore ways #Mojaloop can support pro-poor payment systems.”

Ripple’s XRP has also found its way into Nexo, a European FinTech company that provides instant crypto-backed loans. The company will now give clients access to XRP-backed loans.

Meanwhile, XRP-backed loans are now available on Nexo, in what the company calls the “first and only crypto lender” to use XRP as collateral.

Nexo tweeted out:

“XRP-backed loans are now available on the Nexo platform, making us the first and only crypto lender to onboard #XRP as collateral.

Get instant access to cash while keeping the upside potential of your XRP! #HODL #Ripple”