- Ripple is investing in Wietse Wind through Xpring
- The funding will help XRPL labs work on more innovative projects and startups
- Xpring has previously been known for funding various other startups
Ripple, one of the giants in Crypto announced last year their backing of ‘Xpring’, an investment ecosystem to build out XRP’s infrastructure and help innovative projects grow through funding and partnerships. The most recent recipient of Xpring funding is ‘Wietse Wind’, creator of the infamous and widely used XRP Tip bot. The tip bot allows users from Reddit, Discord and Twitter to send small amounts of XRP to other users.
Venessa Pestritto, Director of Xpring on February 13th tweeted:
“ Thrilled to announce Xpring’s investment in @wiestewind XRPL Labs.”
The tweet linked to medium article where the full announcement was made. According to the announcement, they will now support various products that are created through Wietse Wind’s XRPL Labs through capital and other resources, although the exact investment amount was not disclosed to the readers. The announcement read:
“We are thrilled to announce that Xpring has invested in Wietse Wind’s XRPL Labs. His creative approach, leadership and ability to engage developers were key differentiators in our decision to invest. The funding will enable Wietse to dedicate more time and resources to his projects, which he will independently select.”
Wind is one of many that have received funding from Xpring Labs. Last year they invested in the San Francisco-based startup, ‘Securitize’, a company that plans on tokenizing the $7 trillion securities industry, and they call this Digital Security Offering. Xpring also made the news when they partnered with ‘Zach Katz’, former BMG president and ‘Scooter Barun’ in launching an investment vehicle called ‘Raised In Space Enterprises’ that funds entrepreneurs with technology solutions across all aspects of the music industry.
Xpring hopes to help and fund entrepreneurs in the Blockchain technology and promote startups. This will help both Ripple industries and the Crypto community as a whole in progressing further. The team believes Blockchain and digital assets can solve important problems and XRP with it’s speed, scalability and demonstrated real-world use case – is a great tool for startups and entrepreneurs to build businesses around.