Xpring was launched back in May 2018. It was a Ripple initiative that would invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs. It started as a team of two, with three investments and since then it has grown to dozens of people, have supported more than 20 companies, and have commited over $500M to the ecosystem.
Today, on October 2nd, Xpring released a series of news, conveniently pieced together by Danny Aranda.
First piece of news is that Xpring has now transformed into a developer platform. Xpring is now designed to remove the pain of integrating money into apps – whether it’s US dollars, Philippine pesos, XRP, ETH or any currency. Xpring builds on open source, open protocols and open networks making easy for the 23 million developers worldwide to enable payments in their products and services. Xpring is offering a new Xpring SDK to easily work with XRP/ILP in any programming language, and a variety of tools for development on XRP and ILP including an XRP Network Explorer, a new XRP Ledger Devnet, and a new Testnet for ILP.
Secondly, Xpring will continue to be an active contributor to open-source projects by working with and supporting the community and will be releasing a number of new features to the core XRP Ledger and Interledger projects. This includes support for deletable accounts on XRP Ledger, a new XRP API, a new reference ILP Rust implementation with support for settlement in XRP and ETH, and a new specification for easily writing new settlement engines for ILP.
Last but not least, Xpring announced 4 new participants to the XRP ecosystem:
- Bitpay, a pioneer in processing crypto payment transactions will be adding XRP to their suite of products and wallet. Soon, you can use XRP for everyday purchases and paying bills at thousands of merchants like Microsoft and AT&T.
- BRD Wallet, one of the oldest and most popular cryptocurrency wallets will soon be enabling its users to hold, buy, sell, and send XRP to anyone in the world.
- Anchorage, the new standard for digital asset custody will support XRP for institutional customers.
- Chainalysis, the blockchain analysis company for exchanges, government agencies and financial institutions is adding support for the XRP Ledger to their service.
Lets take a step back and look at all the known projects funded by Xpring so far: