June 2019: Xpring invests in Alkemi

Alkemi on-chain liquidity protocol is a non-custodial solution for stakeholders to earn incentives on their idle crypto assets while providing the infrastructure required for exchanges to stabilize market prices.

Alkemi Network provides a solution that equitably incentivizes various stakeholders to collaborate by putting their coins to work. It enables substantial liquidity through a reserve system for which market services can settle and transact with counter-party systems without the need for trust. The result is a crypto-asset liquidity super-highway that not only creates a bridge between custodial and non-custodial platforms but is also drastically more efficient, transparent and secure.

XRP community member and renoun researcher Bank XRP revealed that Ripple was an investor in Alkemi:

Indeed, it seems that Xpring invested in Alkemi back in June 2019.

$525,000 were invested in this Pre Seed Round by investors like Xpring, Outlier Ventures, ConsenSys and ARC Angel Fund, while Techstars invested in an other round.

Alkemi’s platform provides the non-custodial infrastructure for digital assets to connect with exchanges. It facilitates open access to liquidity and streamlines settlement for its customers (e.g. institutional capital allocators) and partners (exchange venues & third party providers), solving the problem of digital asset market inefficiency.

Alkemi seems to be another strategic investment by Xpring, trying to accomplish additional XRP liquidity. You can read more about Alkemi here.