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Equilibrium Connect has emerged from stealth mode boasting an investment from Ripple’s venture capital arm Xpring. The startup will develop open source tools for accessing and integrating with payments network Interledger, encouraging more people and businesses to use it.
Equilibrium Connect is spinning out of Equilibrium Labs, a provider of infrastructure for Web3 products and services. So far, its parent company has created Vanilla, a framework for building derivatives on Ethereum, and Din, a marketplace for blockchain-based services.
Now the startup is turning its focus towards Interledger, a protocol for making fast payments around the world. It was built in 2015 by Stefan Thomas, who was Ripple’s CTO at the time, and Ripple software engineer Evan Schwartz. The protocol connects different payment ledgers, including Ripple’s XRP ledger, in the hope of creating the much-vaunted Internet of Value—where money can be sent around the internet as easily as information.
“Right now, Interledger has been designed and the foundations are there, but there aren’t really enough people participating in it and there’s not enough liquidity, so its not useful to anyone until those things get into place,” Teemu Paivinen, founder of Equilibrium Connect, told Decrypt.
But, if Interledger were to take off, the impact would be huge. It would allow anyone, anywhere, to exchange value, regardless of which currency they are using, without a trusted third party.
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