Author: Kella Pacquiao, Philippines
Ripple has launched Xpring, an initiative, which will help entrepreneurs to expand their business in terms of banking and payment transactions by using XRP cryptocurrency.
About Xpring Project
Xpring—which is pronounced as “Spring”—is a project that offers investments and grants so companies have the opportunity to use XRP crypto. This allows Ripple to focus on providing reliable financial services.
Ethan Beard, the former director of Facebook’s developer network, is now the hired leader of the Ripple’s developer program.
In an interview of TechCrunch, Eric van Miltenburg, Ripple’s business operations SVP said this:
“The goal is to support businesses that we believe would see benefit from building upon the XRP ledger. Support will come in a variety of ways: investment, incubation and the potential of acquisition or grants.
We’re focused on proven entrepreneurs who can use the ledger and XRP to really address their customers’ problems.”
Eric also mentioned that it has been years since Ripple receives requests from business owners and companies to work with XRP.
At that time, Ripple was focused on providing financial services that it is only recently they have addressed this matter.
“There’s been enough interaction to say there’s something here [and] now is the time.”
Van Miltenburg mentioned that it took four to six months for the idea of Xpring to be “really crystallized.”
Ripple recently released news that Mitsubishi, Standard Chartered and Thailand’s Bank of Ayudhya (Krungsri) will lead the payments between Singapore and Thailand using xCurrent blockchain project of Ripple.
The test will show to what extent the blockchain project can do in terms of commerce. Xpring is undergoing the trial run for high-speed cross-border payments between banks.