September 27: Ripple acquires Logos Network

Logos is a startup developing a turnkey payments solution focused on speed and scalability. The Xpring team met the Logos team earlier this year, as part of Xpring’s ongoing efforts to build an ecosystem around XRP and the Internet of Value. As a result, Xpring announced the acquisition of Logos on September 27.

According to the announcement:

“The talented Logos team will be joining Xpring to expand on our shared vision of building the Internet of Value. As part of Xpring, the Logos team will be leading an ongoing initiative to explore a decentralized financial (DeFi) system that will leverage XRP at its core, as well as other ideas we are exploring to leverage crypto to transform payments and finance. The Logos team will bring even more horsepower to what the Xpring team can deliver.”

Michael Zochowski, Logos’s founder and CEO, will serve as Xpring’s Head of DeFi Products and will continue to lead the team, leveraging the broader resources and relationships that Ripple offers to accelerate execution on DeFi. Michael and the team will be based in Ripple’s New York office.