Ripple [XRP] cryptocurrency, known for being focused on delivering better solutions and improvements when it comes to cross-border money transfers, has announced a new project called Xpring which will act as a financial supportive ground for developers that plan to contribute to Ripple’s network.
When it comes to Ripple, its original goal of being the leading international money remittance service takes shape and form even more every time a partnership is declared or its solutions undergo trials [tests] by various platforms.
Excited to announce Xpring, a new initiative that supports businesses growing on the XRP Ledger, and initial investments in @SB_Projects, @blockchaincap, @Coil_ and @omni. Together, we will grow the #InternetofValue! https://t.co/Vx7cBrnz3D
— Ripple (@Ripple) May 14, 2018
Xpring will fund projects that do seem promising for XRP and its future, functioning as a hybrid accelerator/incubator project that will engage “serious” concepts and companies being developed by “proven” entrepreneurs.
In the Xpring related press release, it was mentioned that the plan for the project is to make sure that projects of interest to have what is needed essentially to grow and develop even further.
Ethan Beard – Senior Vice President is running the show for the fund together with a just-made team. On the matter, Mr. Beard gave center-stage on how important it is for the use cases of Ripple’s platform to spread even more:
“I love helping startups leverage new technologies and developments to grow. At Facebook, we saw companies in areas like gaming, music, and news use our platform to become big businesses. Blockchain and digital assets have the ability to solve important problems and XRP – with it’s speed, scalability and demonstrated real-world use case – is a great tool for startups and entrepreneurs to build businesses around.”
Latest – The intention to find use of Ripple’s distributed ledger technology for showcasing international money transfer has been declared by Mitsubishi Corporation and Mitsubishi UFJ Financial Group.
Utilizing the solutions that the blockchain based tech firm is offering has come as an idea keeping in mind that it will lower time and costs of transaction settlement – according to Mitsubishi Corporation.
“We aim for practical use within a few years,” the statement highlights.