Published: Thu, May 17, 2018
Research | By Jody Lindsey

Ripple launches intiative for startups using XRP tech

Ripple launches intiative for startups using XRP tech

In other news, Standard Chartered, Mitsubishi Corp and Bank of Ayudhya (Krungsri) - a Thailand-based subsidiary of MUFG Bank - announced yesterday a pilot test for payments between Singapore and Thailand using Ripple's xCurrent solution.

Xpring will allow Ripple to invest in, incubate, acquire and provide funding to projects headed by proven entrepreneurs using XRP and XRP Ledger in innovative ways.

The Ripple team announced the new initiative in a press release published on May 14th, stating that the Xpring project is created to ensure that interesting entrepreneurs "have the key essentials to grow their businesses and prosper". With this initiative, Ripple seeks to support entrepreneurs and developers with their XRP-related projects. Xpring is meant to assist a large number of entrepreneurs have it easy when it gets to solving issues across digital media, insurance, real estate, provenance, virtual goods, identity and many other industries.

In order to offer the best support, we need a great team. Ethan Beard, former director of the Facebook Developer Network, is being brough on as senior vice president.

He reflected about the time he served at Facebook outlining that it was his passion assisting startups leverage new technologies and climb to the top.

The aggregated results from several pilots of xRapid indicate that financial institutions facilitating payments on the corridor along the United States and Mexico recorded 40-70% savings compared to what they normally pay foreign exchange brokers. "At Facebook, we saw companies in areas like gaming, music, and news uses our platform to become big businesses", said Ethan Beard. While Ripple will continue to market its enterprise and banking products, it considers the superior speed, stability, and scalability of XRP and XRP ledger as a ideal solution for existing problems in trade finance, identity, gaming and virtual goods, real estate, insurance, provenance, digital media, and many other industries.

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Serial entrepreneur and Omni CEO and Co-founder Thomas McLeod, who will soon be integrating XRP as a currency into Omni's marketplace.

Scooter Braun, entertainment talent manager, entrepreneur and founder of SB Projects, who is pursuing several endeavors that will use XRP to improve artists' ability to monetize and manage their content.

Bart and Brad Stephens, co-founders of Blockchain Capital, who have the first fund to accept capital calls in digital assets with 'a focus on driving innovation in the blockchain sector'. Do you think this will lend more value to XRP and the XRP Ledger?

"Xpring is a way for us to invest in, partner with and help develop a community of businesses using XRP as a fundamental technology", Cory Johnson, chief market strategist at Ripple, told Liz Claman during a FOX Business interview on Monday.

The Xpring team finished their announcement by writing that they are vetting hundreds of candidates but are still open to new projects and business applications and invite serious entrepreneurs to visit the Xpring website.

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