Ripple’s Xpring Invested $500 Million In Over 20 Blockchain Companies To Boost XRP (XRP)
Ripple is one of the most popular companies in the crypto universe, mostly thanks to its XRP (XRP) digital token and platforms that would revolutionize the banking and financial systems. But, Ripple means more than that, and Ripple’s Xpring initiative pledged to help blockchain companies. Up till now, Xpring invested about $500 million in over 20 crypt- and blockchain-related startups.
Xpring focuses on building an ecosystem around the XRP (XRP)
Of course, nothing is free in this world, and Xpring’s investment also had an ‘egoistic’ perspective. The ultimate goal for Xpring is to construct a robust ecosystem that revolves around XRP (XRP).
While Ripple’s XRP is renowned for facilitating cross-border payments via the FinTech group’s xRapid platform, Xpring’s Senior Vice President, Ethan Beard, believes that the XRP can bring much more on the table.
“Our goal at Xpring is to make it easy for developers to build projects that create real use cases for XRP,” said Ethan Beard in a recent article.
Ripple’s Xpring invested in surging XRP (XRP) adoption
Among the most notable investments that Xpring made over time is one in value of $20 million in Coil. Coil is a micropayments solution that targets content creators, and it’s owned by Stefan Thomas, the former CTO at Ripple.
This investment won’t return any immediate profits for Ripple, at least not on the short term. However, in the long term, this one might prove an excellent deal, especially since Coil’s monetization services based on XRP (XRP) would soon become part of Imgur, the popular image sharing platform.
But, another surprising investment of $100 million went to Forte, a games development startup. Ripple wants the funds it sent to Forte to benefit the usage of XRP (XRP) as an in-game currency in the future games that Forte would develop. That would increase XRP (XRP) adoption to a new level.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.