Earthport Launches Distributed Ledger Hub

Earthport, the leading cross-border payments services provider, today announced the launch of its Distributed Ledger Hub (DLH). The new Hub is accessed through Earthport’s Distributed Ledger Gateway, that will provide full connectivity into Ripple, including private Ripple instances, Ripple market makers, and in time, other Distributed Ledgers, the company said in a press release.

Earthport’s services in the DLH are conducted entirely in fiat currency with no use of crypto currencies, it added.

The DLH will simplify and accelerate the adoption and implementation of Distributed Ledger Technologies for the banking system without additional heavy investment in infrastructure, compliance or operational requirements.

“Through DLH, Earthport’s clients can gain access to the full benefits of Distributed Ledger Technology at minimal effort and cost through a single API; a global first for the industry”, the press release said.

Besides Ripple, clients will be able to access all payment methods in more than 60 countries in a fast and highly cost effective manner through the same API, following the same thorough compliance processes used in all Earthport transactions.

“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”, Hank Uberoi, CEO, Earthport, said in a statement. “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.”