Ripple’s XRP is the world’s third-biggest cryptocurrency in terms of market capitalization, and over the past few years, the company has been engaged in extensive deal-making in order to make the cryptocurrency go mainstream in a big way.
The company has also built up a wide range of products in its ecosystem that seeks to make the usage of XRP more prevalent in the global economy, and one of those products is Xpring. The Xpring initiative is aimed at building what is called the ‘internet of value’ and making the participants in the ecosystem use XRP more. Xpring has bagged a whole range of projects over the past months, and in a new development, it has emerged that it has contributed as much as $500 million across a range of 20 companies.
Significant for Ripple
The amount invested in any particular company varies wildly and is a reflection of what Xpring feels about that company’s promise. For instance, it has invested as much as $100 million in Forte, which is a gaming platform. Other notable recipients of Xpring’s investments were Robot Ventures, which is regarded as a ‘crypto scout’ fund, and security company Securitize, among others. These are highly strategic moves from Ripple to display with a range of companies how the usage of XRP can help all kinds of businesses, and it goes without saying that it is a strategy that could work.
Ripple believes that, in the years to come, its Xpring strategy can eventually lead to the wider usage of the XRP Ledger and Interledger projects in a wide variety of businesses. Xpring hopes to bring the comforts of decentralized finance to businesses. If a majority of these companies do end up finding the usage of XRP to be beneficial, then it would certainly be a great development for the XRP ecosystem as a whole.
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