Just In: Ripple’s Xpring Invests in Wietse Wind’s XRPL Labs

Tristan, Wietse and Ali project, XRPL Labs, now have the full backing of Ripple’s Xpring, Vanessa Pestritto has announced via a Medium Post. Describing themselves as a dedicated team working full time developing applications for the XRP Ledger, their exemplary work has been identified and would receive undisclosed amount of funds from the global payment start-up.

Wietse Wind is helping build an ecosystem around ILP and XRP Ledger and most of their products revolve around creating use cases for XRP. XRP as we know is the native coin of the Ripple ledger and despite recent headwinds; it is the third most valuable in the world after Bitcoin and Ether.

Vanessa picks out the XRPL Labs team leader attributes saying he is a team leader, a proven entrepreneur who has ” built a technology consulting company, which serves numerous clients ranging from larger scale companies to smaller offices.” She goes on saying that Wietse’s “creative approach, leadership and ability to engage developers” were the main reason why Xpring settled on his project.

Some of XRPL Labs projects include:

  • A DEX UI where a user can trade XRP with IOUs or vice versa. It is through this DEX that a user can also send, create and cancel offer right on the XRP ledger.
  • A cold Storage OS which is 100% Air-gapped. This enhances security and for a user to reap all these benefits, all s/he needs to do is install the company’s Linux-based XRPL Cold Storage OS. From there they can “Store keypairs and secrets, safe and encrypted, and compose and sign transactions offline and submit transactions air-gapped
  • There is a Signing platform, an application, where interested parties can interact with the XRP ledger straight from their Android or iOS smartphones. The application has DEX and Multi-sign support.

Xpring describes itself as a proverbial spring and it is an initiative by Ripple that “invests in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs.”  Ethan Beard, the SVP at Ripple and Former Director of the Facebook Developer Network at Facebook heads the team. Some of the projects that are reaping benefits from Xpring investments include Coil, founded by Stefan Thomas—the founder of the InterLedger Protocol (ILP) who was at one time a team member of Ripple, Thomas McLeod, who is creating Omni, a market place that use XRP as a settlement currency and Scooter Braun, the brains behind SB Projects.