Overview

Strata Labs built scalable payments technology supporting the interledger network and was acquired by Ripple in October of 2019. Passionate about creating a globally interoperable payments network our founders set out to demonstrate the feasibility of interledger, an open source protocol that facilitates instantaneous cross currency payments. Our team worked to lay the foundations of this network, expanding the number of interoperable currencies to include multiple decentralized (Bitcoin, Ethereum, XRP) and fiat (USD, EUR) currencies. To accelerate the growth of the network we developed a product that allowed depository financial institutions to access their payments data through a simple API while we managed the cloud infrastructure. Given the mission critical nature of payments infrastructure, we maintained our SLAs through employing state of the art cloud deployment tools like kubernetes. Our customer set included multiple depository financial institutions. After one year we had processed over 10 billion payments. Our horizontally scalable infrastructure scaled to over 3,000 transactions per second. Upon demonstration of the commercial viability of our technology Ripple acquired us with the intent to open source our software and employ it in future partnerships and products.