Home Cryptocurrency Ripple Invests $0.5 Billion in Xpring to Promote the Adoption of XRP

Ripple Invests $0.5 Billion in Xpring to Promote the Adoption of XRP

Ripple has invested a sum of $500 million in boosting up its initiative Xpring, which was launched to accelerate capital investment into businesses and ultimately promote the adoption of XRP.  In a recent interview, Ethan Beard, Senior Vice-President at Ripple, said that it has

we have almost a top-down strategy that is working directly with financial institutions, providing them enterprise software that’s already customized for their world, and lets them tap into the power of XRP.

Ethan further stated that the firm is working on two strategies for the implementation of its vision based on the targeted audience. The first one is for financial institutions and XRP to anyone interested in digital assets.

As per Ripple’s VP, Xpring is aimed to uphold the Internet of Value. Additionally, it provides a platform for coders and developers to constitute projects that can have real use cases for Ripple. Resources offered in Xpring like tools, libraries, and services for developers and Inter-ledger protocols can be used to solve problems in a transformative way.

Several projects have been built and hosted efficiently on Xpring. Be it content monetization platform Coil or gaming platform Forte, Xpring has introduced various companies to a new world of blockchain technology through its innovative business solutions. Some other notable projects include Bolt Labs (a privacy-focused payment channel), Securitize (liquidities private securities market and enable easily tradable assets), and Dharma (a peer-to-peer lending marketplace).

The regulation in XRP sale seems to have strengthened the valuation of Ripple. Also, the firm is focused on making some big tie-ups, and crypto enthusiasts are looking forward to it. Notably, Ripple holds half of all the XRP, whose net worth is $12 billion. Ripple’s decision to promote the growth of the XRP Ledger will help the firm in the long run and might turn out to be a milestone decision for the crypto industry.

Felicia Learned
Felicia Learned
Felicia well-known for her writing skills works as a content writer lead in our team. She also has a deep interest in forex, Finance & cryptocurrency funds and guides people dealing with a cryptocurrency exchange. She loves reading finance blogs in her free time. For any issues, you can contact her through email: felicia@forexnews.world</a.

Must Read

Trade99 Review: Reliable, Secure, Innovative

Trading has become less consuming these days because of the availability of many online platforms. Online platforms are user-friendly. They do not need any...

American Automotive Firm Rivian Raises $1.3 Billion in Fund Investment Round

Headquartered in America, the globally leading automaker and automotive tech firm, Rivian has broadcasted the news about the closure of its highly anticipated investment...

Iran Moots Common Cryptocurrency for Muslim Nations At Kuala Lumpur 2019 Summit

At the on-going 2019 Kuala Lumpur Summit in Malaysia, Iranian President Hassan Rouhani called for the creation of a common cryptocurrency for Muslim countries....

HDFC Bank Joins the League of $100 Billion Market Cap Companies

HDFC Bank Ltd has crossed the $100 billion mark in terms of market capitalization. With this, it has become the 3rd firm in India...

UAE Vows Dh55 Million as Assistance for School Students in Sudan

The UAE has pledged to donate Dh55 million to help school-going children in Sudan. The financial assistance from the Abu Dhabi Fund for Development...