eToro Is Working With Ripple And Flare Networks

Ripple has been seeing tons of achievements and massive success this year despite the global crisis in the middle of which we are.

The company is working hard to boost the complete XRP ecosystem, but also to drive the mass adoption of the digital asset XRP.

eToro supports the Ripple ecosystem

According to a press release that’s been recently published by the online publication the Daily Hodl, eToro is proud to have a large community of XRP holders on the platform. eToro reveals that they are proud to support the continued evolution of the Ripple ecosystem.

It’s been revealed that eToro is currently in conversation with Ripple and Flare Networks about the upcoming distribution of Spark – this is the native token of the Flare blockchain.

On Twitter, Ripple’s partner Flare revealed the date of a network snapshot – this will be when all XRP holdings are recorded in order to determine the distribution of Spark.

The event will be taking place on December 12th. It’s also important to note the fact that all the XRP holders who want to get Spark tokens will have to make sure that they have XRP is supported wallets or exchanges.

After the launch of Flare Network, all XRP holders will be airdropped a number of Spark tokens relative to their XRP holdings. The exact date of the airdrop has to be revealed.

A potential two-way bridge to connect XRP and ETH

Flare’s main goal is to bring advanced smart contracts and boosted scalability to XRP. This could eventually lead to creating a new two-way bridge connecting XRP and ETH.

Ripple CEO, Brad Garlinghouse addressed the importance of Flare:

“From my point of view, Flare is combining the best of XRP (very fast settlement), Ethereum (smart contracts), and Avalanche (for consensus) which helps extend XRP’s utility and allows developers to create smart contracts for new use cases like lending and DeFi.”

We recommend that you check out the complete press release for all he available details.

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Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.

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