Ripple establishes ILP to implement a standardized payment interface

Ripple has established the Interledger Protocol (ILP) as the only technology currently available to implement a standardized payment interface that provides financial institutions with a way to address the payment methods of various digital asset ledgers. Equilibrium Connect, supported by its development department Xpring, is a company focused on building open source tools for ILP. Equilibrium Connect said it plans to set up and operate a multi-currency connector that allows both parties using different cryptocurrencies to seamlessly settle transactions.