It was back in October 2019 that Xpring, Ripple’s investment arm, invested in Towo Labs, a Swedish startup aiming to simplify crypto self-custody.

Towo Labs’ team was behind the launch of the XRP Toolkit, which enabled users to manage their keys and execute any transaction type on the XRPL from the Secalot wallet. Towo Labs planned to release an update to the XRP Toolkit so users can enjoy a trustless, non-custodial XRP Ledger web interface, support for all 17 XRP Ledger transaction types and complete hardware wallet support.

This move “could add all transaction types to leading hardware wallets, including Ledger Nano S, Ledger Nano X and Trezor T”, said Vanessa Pestritto at the time.

XRP Toolkit v2

A little more than half a year later, on May 28th, XRP Toolkit v2 was released. The new Toolkit can now access the XRP Ledger’s Decentralized Exchange (DEX), connect to Xumm wallet, send payments, trade, and create escrows.

In a Coil post, Markus Alvila, founder of Towo Labs, explained all about the new Toolkit. With the new Toolkit you can:

  • Get an overview of your XRP Ledger accounts
  • Send and receive payments
  • Create escrows
  • Trade a wide selection of assets

The XRP Toolkit is non-custodial, only users can control their wallet and assets. All actions are settled directly on-ledger from a browser, users trade directly with other traders and all value transfers are wallet-to-wallet.

The XRP Toolkit received more than 15,000 visits from all over the globe in the first few days of its launch. Next up on Towo Labs’ roadmap for the XRP Toolkit is adding the remaining features, releasing premium features, and more wallet options. Towo Labs will be releasing support for connecting hardware wallets like Ledger Nano S and Ledger Nano X next, with Trezor to follow in the second half of 2020.

Giving users the ability to easily use the XRP Ledger’s DEX and seamlessly trade their assets while holding them on their own wallet is a very important milestone for XRP. It will be exciting to watch the XRP Toolkit unveil additional features and support for other popular wallets.

Categories: Custody