Ripple acquires Logos Network to build XRP-based DeFi products

According to Coindesk, Ripple has begun to build XRP-based DeFim (DeFi) products. By acquiring the distributed payment platform Logos Network, Ripple's investment division Xpring will add nine engineers to New York. Michael Zochowski, founder and CEO of Logos, will become Xpring's "DeFi Product Director." Xpring did not disclose the price of the deal.