Multi-Signature Wallets technology provider BitGo has been selected by Ripple to provide advanced treasury management and additional enterprise functionality for XRP, the native asset of the Ripple Consensus Ledger (RCL).
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Mike Belshe, CEO and co-founder of BitGo, commented: “Ripple is a perfect partner for BitGo since our mission is to make digital assets like XRP usable for business. BitGo’s sweet spot is providing businesses the tools they need to integrate digital assets into their existing financial systems securely and at scale. We process over $1 Billion in transactions per month and our customers include the biggest digital currency exchanges and applications in the world.
Partnering with Ripple and working with the technology behind the RCL and XRP has been outstanding. They have a dedicated and experienced group of developers. The RCL has been processing and validating transactions on the network since 2013, closing a ledger every five seconds. This team understands crypto and traditional finance extremely well and I believe they are well positioned to disrupt global settlement via blockchain.”
Last month Ripple published its first quarterly XRP Markets Report, which offers updates on the state of the market including quarterly sales, commentary on price movement and plans for Q1 2017. The firm plans to offer qualified market participants the ability to borrow XRP to facilitate enhanced participation in XRP markets and deeper and more stable markets.