Ripple Announces Launch of Xpring Project to Support Companies Using XRP Technology


On May 14, Ripple reported that they intend to provide support and grants to companies that use the company’s token and their Ripple ledger.

Senior Vice President of the project Ethan Beard will lead a group of developers who will work on Xpring and Ripple. Commenting on the work on the project, Beard noted that:

“…XRP – with it’s speed, scalability and demonstrated real-world use case – is a great tool for startups and entrepreneurs to build businesses around.”

It is worth noting that despite the fact that Ripple provides financial support for Xpring, the project is an independent division of the company. It is reported that Xpring representatives will occupy seats on the board of directors and/or hold part of the shares of those companies to which they provide support.

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