Flare says it’s building a bridge between XRP and the Ethereum ecosystem.
In a series of tweets, the Ripple-backed blockchain platform says the bridge will utilize its token Spark (FXRP), which is pegged 1:1 with XRP.
The company says the move will open up new use cases and more avenues of utility for Ripple’s native crypto asset.
“This would allow FXRP to be used trustlessly on Ethereum as well as providing a scaling platform for Ethereum tokens and applications whilst giving access to the XRP market for existing Ethereum applications. This could bring together the #XRP and #Ethereum ecosystems….
Ripple has long been interested in creating a financial bridge between its native cryptocurrency and the Ethereum ecosystems.
Earlier this year, the payments startup sponsored ETH Denver with the aim of connecting XRP, Ethereum (ETH), and ERC-20 tokens.