In a significant announcement today the utility and adoption of the cryptocurrency XRP was given yet another boost. Ripple is often criticized by some sections of the cryptocurrency community due to XRP being seen as a “bankers coin”. The news that Xpring invests in XRPL Labs is a continuation of the desire to foster broader use cases for XRP.
The team behind XRP have always seen it as much more than solving a banking problem, and are constantly on the lookout for new avenues to improve the speed of all financial transactions. Xpring is one of the many avenues set up by Ripple to achieve exactly that. Xpring was launched in May 2018:
Xpring is a new initiative by Ripple that will invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs. Every entrepreneur will use the digital asset XRP and the XRP Ledger, the open-sourced, decentralized technology behind XRP, to solve their customers’ problems in a transformative way.
And it is through this initiative that XRPL Labs secured there funding. One of the driving forces behind XRPL Labs, Wietse Wind, has been active on social media championing the benefits of developing tools on the XRP Ledger for quite some time, and is responsible for, among others, the XRPTipbot which you can find on any of the articles in our cryptocurrency charity initiative pages.
The news that Xpring invests in XRPL Labs will mean ensure that Wietse and his team of experienced developers, Ali and Tristan are able to focus their time and skills for development of the many ideas and visions they have.
Xpring invests in XRPL Labs
The announcement that Xpring invests in XRPL Labs was made by Xpring director Vanessa Pestritto and can be found here, and is copied below.
At Xpring, we are focused on growing the ecosystems around the Interledger Protocol and XRP Ledger. To do so, we need to work with developers that share our vision of interoperable blockchains and new use cases for XRP.
One of those developers is Wietse Wind. Wietse not only has excellent past experience, but understands the protocols and technical details of both the XRP Ledger and Interledger Protocol.
Wietse is also a leader in the XRP community, where he has dedicated personal time and resources to building projects and developer tools, contributing to the XRP Community Blog, and educating developers at local meetups. Wietse is a proven entrepreneur and has successfully grown his companies organically. He has built a technology consulting company, which serves numerous clients ranging from larger scale companies to smaller offices. He’s also built and ran a software company that provided a platform as a service for rapid web development.
We are thrilled to announce that Xpring has invested in Wietse Wind’s XRPL Labs. His creative approach, leadership and ability to engage developers were key differentiators in our decision to invest. He continues to stand up new products and projects while asking hard questions about how new technologies will enable new forms of engagement between people and machines (such as streaming payments for electrical power; see below). The funding will enable Wietse to dedicate more time and resources to his projects, which he will independently select. To see the latest announcements, follow Wietse.
Wise Cryptos wish XRPL Labs a prosperous future and look forward to seeing the advancement of their projects as they proceed.
Work at XRPL has picked up steam with the investment from Xpring. Wietse and the team announced their intention to apply for a European banking license at a recent XRP meetup, and today significant news broke about a partnership with the cryptocurrency exchange Bitrue:
As you probably noticed @BitrueOfficial is a big XRP fan. As they offer many XRP pairs it was a no brainer to partner up to make it easier for users to deposit other cryptos to the XRP TipBot using @BitrueOfficial. Their tokens (🤣) of appreciation will go back to the community! pic.twitter.com/cxzLG4F4M2
— Wietse Wind (@WietseWind) April 25, 2019
After so many tipping effort made through @xrptipbot , finally we are taking it to the next stage! A partnership with @WietseWind for the most loved @xrptipbot 🙌🥂! We feel so honored to be able to better serve the #XRPcommunity with this initial integration, more to come! 💪 https://t.co/xsSr0N5bp6
— Bitrue (@BitrueOfficial) April 25, 2019
This partnership is significant in that the XRP Tipbot now uses a cryptocurrency other than XRP, a perfect example of the ability for the XRP Ledger to move a range of different currencies.