Ripple blockchain investment initiative Xpring invests in Equilibrium Connect. Xpring was set up by Ripple to contribute to, invest in and partner with blockchain startups in the fields of payments, interoperability and decentralized finance. Xpring also contribute to open-source crypto protocols such as the XRP Ledger and Interledger projects.
Xpring invests in Equilibrium Connect
Interledger as an open source project is seeing further development of its core infrastructure, new network participants and initial use cases. Given our focus at Xpring on creating a developer platform to build the Internet of Value, this progress is encouraging but we always get excited about new collaborators to pursue this mission.
Towards this, we’re thrilled to share that we’ve invested in Equilibrium Connect, a new company founded by Teemu Paivinen. Equilibrium Connect is all in on Interledger. In addition to contributing to the core protocol, they will operate an an Interledger node across multiple currencies (BTC, ETH and XRP) and offer a web services API for developers to easily access and build on the network. As the network grows and evolves, they’ll begin to build Interledger-based applications of their own that leverage the network’s unique properties.
We’re particularly excited about the team and the contributions they’ll make to the Xpring ecosystem. Teemu is crypto-native, having been an early founder to the space by starting Coinmotion, one of the first Bitcoin exchanges in Europe. He also advises a number of leading projects in the crypto space such as Dapper Labs, Zeppelin and others. Further, his entrepreneurial experience extends beyond crypto to the more traditional web space having founded Oddshot, a video streaming platform backed by Union Square Ventures. Teemu has a number of qualities that we love to see in founders: the ability to form strong, passionate teams; a talent to see around corners on what’s next; and conviction to pursue a vision and make it happen. We couldn’t be more excited about what he’s cooking up next — you can hear more about it here.