Ripple launched their Xpring project, announced on Consensus


Ripple Xpring project has been launched for financial support to companies developing products and services for XRP, the world’s third-largest cryptocurrency with a market capitalization of $29 billion as of May 15th. The opening of the Ripple, venture fund became known at the Consensus 2018 blockchain conference, which takes place in New York.

Ripple is tested and used by some banks, but so far it is not a mass application. Thanks to the launched project, Ripple will invest and provide grants to companies using the digital assets of XRP and XRP Ledger in their activities to speed up the process of mass integration of the company’s products. Ripple invited Ethan Beard to the position of senior vice president to the Ripple Xpring project. Earlier, Beard served as director of the Facebook Developer Network from 2009 to 2012, where he oversaw issues related to collaboration with developers around the world, operations, and marketing of products for the Facebook API. Prior to Facebook, he worked as a director of social media and director of business development at Google.

The San Francisco start-up has already announced the launch of several projects, activities which were funded by Ripple resources. Just last month, the company invested about $25 billion in XRP tokens at Blockchain Capital, a $150 million venture. Blockchain Capital manages assets worth more than $350 billion, including investments in companies such as Coinbase, Circle, and Kraken.


On May 15th, there will be a Ripple closed party, at which the American rapper Snoop Dogg will perform.