According to Bitcoinist, according to Xpring executive Ethan Beard, Ripple has invested more than $500 million in less than 12 months. Xpring is a venture capital fund owned by Ripple to improve the Ripple ecosystem and create use cases around XRP.
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In the next few months, Beard said that Xpring will invest in various open source protocols, developer projects, and large-scale partnerships with XRP to develop more "real use cases for XRP."
Is the breakthrough required for XRP in front of you?
In the past few months, despite the positive developments and transactions in the price of Ripple (XRP), especially in the Asian encryption market, XRP prices have been stagnant compared to other crypto assets such as Bitcoin.
Ripple CEO Brad Garlinghouse said in a speech at the Fortune Brainstorming Financial Conference in New York that the launch of Facebook's cryptocurrency Libra helped push Ripple to take a lot of contracts and create a record for Ripple. Cooperation signing week.
Last month, the Swiss-based Libra Association created a cryptographic asset called Libra, created by large corporate groups such as Facebook, Mastercard and Visa, backed by real-world assets.
At the time, Garlinghouse said:
"For Ripple, this will be a record week. Libra definitely promotes our contract signing. This is a call to action. I will send a box of champagne to Libra's head David Marcus."
After Garlinghouse issued a statement on June 20, Xpring announced that it will invest more than $500 million in XRP-based projects.
Beard and the Xpring team said:
“Xpring is growing rapidly. So far, we have invested $500 million to support more than 20 companies, from independent development projects to larger partnerships. Our efforts have expanded into two areas: through the open source encryption protocol ( The best encryption infrastructure, such as the XRP ledger and the Interledger project, helps grow innovative blockchain projects through partnerships and investments."
In the short term, the Xpring team said it intends to use its own funds and resources to create an easier ecosystem for developers around XRP build projects, encouraging independent developers and companies to use XRP.
Xpring has funded various platforms, such as the content monetization platform Coil and the gaming platform Forte, to encourage the use of XRP.
The core technologies of Ripple, XRP Ledger and decentralized financial projects are expected to remain the main focus of Xpring.
Low-key cooperation deal
Earlier, Ripple invested in Moneygram, which investors expected to eventually lead to the integration of XRP into its system. Similarly, Coil invested $20 million in Imgur on June 26.
Imgur is the world's largest image hosting platform with more than 300 million users, and venture capital from Coil, founded by former Ripple chief technology officer Stefan Thomas.
Some people expect that venture capital transactions like Coil-Imgur will increase the use of XRP in the next few years.
Imgur CEO Alan Schaaf said in the final timing of the transaction:
“Imgur was founded in 2009 as a gift for the Internet. Over the past 10 years, we have established one of the largest and most active online communities whose core values are “giving more than asking.” Coil's technology will provide users with New opportunities to give and support the community in new ways."
Transactions such as Moneygram and Imgur may bring XRP integration in the future, which will increase the availability of this asset.