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Payment network Earthport launches Distributed Ledger Hub

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Cross-border payment network Earthport has launched its Distributed Ledger Hub (DLH), which provides full connectivity into the Ripple payment protocol.

The DLH is accessed through Earthport’s Distributed Ledger Gateway, which was announced in August last year, enabling banks to gain access to the benefits of distributed ledger technology through a single API.

Through the same API, clients can access payment methods in over 60 countries, with transactions conducted entirely in fiat currency with no use of cryptocurrencies.

Hank Uberoi, CEO at Earthport, said he believes different ledgers may gain traction over time, with some having a regional affiliation and others being 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,” he added.

Some 50 banks across the world are connected with Earthport, which is headquartered in London with offices in New York, Miami, Dubai and Singapore.

Last year, the company was named one of FinTechCity’s FinTech50 alongside the likes of Blockchain and TransferWise.

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