Ripple Xpring invested $ 500 million in XRP ecosystem development

Ripple Xpring invested $ 500 million in XRP ecosystem development

The investment unit Ripple Xpring reported that since May 2018, the company has invested $ 500 million in the development of projects working with the XRP token.

According to the blog entry, the funds were distributed among 20 different firms, including the Forte gaming blockchain platform, as well as the Bolt Labs, Securitize, Dharma and Wietse Wind’s projects XRPL Labs.

“Our efforts were focused on two areas: creating a better cryptocurrency infrastructure with the support of open protocols such as XRP Ledger and Interledger, as well as helping innovative projects,” the report said.

Investments should simplify the process of implementing the XRP token in existing systems and infrastructures. In addition, “tools, libraries and services for developers on the XRP Ledger and Interledger protocols” are being created.

The company also invested in the area of ​​decentralized finance and plans to invest in cryptocurrency projects related to derivatives trading and lending.

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Recall that, as previously reported, the company Ripple intends to invest $ 50 million in the MoneyGram money transfer service. It is expected that these funds will help develop the service within two years.