Ripple Boosts XRP With New Investment Involving Simplifying Crypto Wallets
Ripple has been making a lot of efforts to boost the whole XRP ecosystem, and the successful achievements in this direction seem to continue with this latest move as well.
Ripple aims to help simplify crypto wallets
Ripple is now investing in a company that targets simplifying crypto wallets.
This is the Swedish startup Towo Labs, and it’s getting funds from Xpring, Ripple’s investing arm, as you probably know by now.
Marcus Alvila is the startup’s founder, and he confirmed the news, according to the latest reports coming from the Daily Hodl.
It’s been reported that Ripple’s cash will be fueling the development of hardware wallet firmware that supports all XRP Ledger transaction types and “a trustless, non-custodial web interface to the XRP Ledger.”
Towo plans to develop hardware wallet firmware with full XRPL support for Ledger Nano S, Ledger Nano X, and Trezor T.
Alvila stated the following:
“Today’s existing firmware only supports XRP payment transactions, which in some cases block further XRPL and Interledger innovation. The new firmware, however, will support the signing of cross-currency payments, trust lines, escrows, orders, payment channels, account settings and so forth.”
Alvila continued and said that “With full XRPL support among the leading hardware wallets, transactions can be prepared from untrusted devices and applications — for example, over the web — before being reviewed and securely signed inside a hardware wallet.”
Another step towards mass adoption
This move is one more important step towards mass adoption and this is mainly because the toolkit allows users to manage their keys and execute all types of XRPL transactions via the Secalot wallet, says Vanessa Pestritto who is Xpring’s director of strategic growth.
Mass adoption of digital assets has been an important goal in the crypto space this year, and there have been made various moves to support this bold plan.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.