Ripple Makes Efforts To Expand XRP’s Reach – New Xpring Investment Revealed
Ripple has been working really hard for a long time in order to boost the adoption of the whole XRP ecosystem.
Ripple wants to expand XRP in the world of derivatives
Ripple said that the recent investment in the Vega Protocol is designed to boost the adoption of XRP in the world of derivatives.
It’s worth noting that the Vega Protocol recently raised $5 million from more investment companies including Ripple’s Xpring in order to help build and roll out the decentralized derivatives platform.
In a recent blog post, Ripple’s director of strategic growth for Xpring Vanessa Pestritto said that the San Francisco startup is focused on boosting adoption of DeFi – decentralized finance.
“Exploring this developing industry requires building, partnering with and investing in great teams that are aligned with the future of finance,” she said.
She explained: “As we build out our own engineering team, Xpring will continue to engage with DeFi teams and communities to support the future of DeFi including the derivatives industry – a trillion-dollar market.”
Ripple makes efforts to boost XRP
According to Pestritto, Ripple is aiming for its investment in Vega Protocol to lead to the launch of XRP on the platform.
“This premise for collateralizing assets to work in an interoperable environment was most appealing as we explore new use cases for XRP and the future of decentralized finance.”
Vega’s vision is to create an open, decentralized network, and this will enable trading and making capital markets broadly available.
Vega will still build their network and explore more and more opportunities to add other asses as collateral, and these include XRP as well.
Other than this, Ripple is currently in the middle of a rebranding process.
The San Francisco-based firm confirms reports that are claiming that there’s a rebranding that is taking place at the moment, and it involves the main products.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.