We’ve got big news.
As of today, Ripple users can make payments to Bitcoin addresses directly from their Ripple Wallets. Here’s how it works:
It’s that simple.
We call it a “Bitcoin Bridge” and it gives Ripple users access to the entire Bitcoin economy.
You don’t even need to own or use Bitcoins to make payments in Bitcoins. That’s right. Ripple users can make a payment in any currency — dollars, euros, etc. — and the Bitcoin merchant will receive the payment in Bitcoins.
That’s good for Ripple users and it’s also good for Bitcoin merchants.
Thousands of new merchants for Ripple.
Thanks to the Bitcoin Bridge, all Bitcoin merchants now accept payments from Ripple users. More than 8,500 merchants are now available on the Ripple network:
How Does It Work?
The Bitcoin Bridge is a simple protocol that connects the Ripple and Bitcoin networks. When you send money from Ripple to a Bitcoin address, an organization running the bridge protocol facilitates the transactions. Bitstamp is the first company to adopt the protocol — however it can be freely and easily implemented by anyone.
Ripple was designed to be currency inclusive. Instead of promoting one currency or another, Ripple makes it easy to send payments in any currency and acts as a “universal translator” for money. The Bitcoin Bridge is one more step in Ripple’s mission to connect the disparate Internet payment systems into a single, shared, unified payment network, freely available and accessible to all.
To learn more, read the official OpenCoin press release.
To use Ripple in your business, contact us at firstname.lastname@example.org.