Earthport creates single API for access to distributed ledgers

Earthport creates single API for access to distributed ledgers

UK-based payment network Earthport has launched a single API to connect banks to Ripple's distributed ledger protocol when processing cross-border payments.

The 'Distributed Ledger Hub' is a service accessed through Earthport’s Distributed Ledger Gateway, announced in August of 2015, that will provide full connectivity into Ripple, including private Ripple instances and market makers. In time, the service will be extended to cover other distributed ledgers, says the vendor.

Earthport says the new Hub will offer a way for banks with smaller budgets to gain access to the full benefits of distributed ledger technology via a single API.

The creation of the API is seen as a convenient way for banks to access Ripple's distributed ledger protocol while overcoming budgetary, technology and compliance constraints, with all services conducted entirely in Fiat currency.

Hank Uberoi, CEO, Earthport, comments: “It is our belief that there may be different ledgers that gain traction over time - some will have a regional affiliation, and some may be more aligned by industry sector. Banks will need to have access to a growing universe of different ledgers to serve their own clients, further complicating their technical roadmaps. Earthport, in consultation with its clients, will grow the Hub to encompass different ledgers as needed, all available via a single Earthport API.”

Comments: (1)

Enrico Camerinelli
Enrico Camerinelli - Aite Group - Boston 12 January, 2016, 13:131 like 1 like

"Banks will need to have access to a growing universe of different ledgers to serve their own clients". Looking forward to reading Earthport creating a similar hub for bitcoin blockchain ledger.

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