Ripple Launches 'Xpring' Initiative to Invest in XRP-Focused Startups

Mindy Sparks
May 17, 2018

Ripple also announced that it appointed Ethan Beard (former Director of the Facebook Developer Network) as senior VP in charge of leading both Xpring and Ripple's developer program.

The project will utilize a mixture of grants, incubation, and investment to lure firms and expand the utilization of XRP while giving Ripple space to focus on its financial services business.

Under this new Xpring initiative, Ripple will invest, incubate, acquire and provide grants to business that will make use of XRP or the XRP Ledger.

That's why today we are announcing Xpring (pronounced Spring). Only the projects which will use the cryptocurrency XRP and the XRP Ledger to solve their customers' problems in a transformative way will be considered.

Currently, Ripple is being tested out, or used by multiple banks and not much beyond that. However, the characteristics of XRP and the XRP Ledger - superior speed, scalability and stability - make it ideal for entrepreneurs looking to solve problems across identity, trade finance, gaming and virtual goods, provenance, real estate, insurance, digital media and many other industries.

"The goal is to support businesses that we believe would see benefit from building upon the XRP ledger". The XRP cryptocurrency will gain wider recognition and adoption as a result of this initiative.

Global remittance focused cryptocurrency Ripple has launched a new initiative created to provide entrepreneurs and innovators with financial backing in order to develop solutions based on Ripple technology.

The list of entrepreneurs which will utilize XRP is already extensive.

Blockchain technology and digital assets like XRP will provide artists with new distribution channels and revenue streams.

Ripple Chief Market Strategist Cory Johnson discusses how his company is using XRP technology to help startups.

Stefan Thomas, inventor of the Interledger Protocol (ILP), creator of BitcoinJS, and co-founder of TxtBear, who recently launched Coil - a new project that will use XRP and the ILP for various micropayments applications. At Facebook, we saw companies in areas like gaming, music, and news use our platform to become big businesses.

Serial entrepreneur and Omni CEO and Co-founder Thomas McLeod, who will soon be integrating XRP as a currency into Omni's marketplace. Ripple also mentioned that the Xpring team is "already vetting hundreds of fantastic projects", suggesting that this initiative is based on forming a new force in the blockchain market.

"Xpring is a way for us to invest in, partner with and help develop a community of businesses using XRP as a fundamental technology", Cory Johnson, chief market strategist at Ripple, told Liz Claman during a FOX Business interview on Monday. They also tend to be more secure, due to their open source nature.

Other reports by Iphone Fresh

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