Ripple Announces Xpring to Create Ecosystem Around XRP

Ripple Announces Xpring to Create Ecosystem Around XRP”

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.

Ripple (XRP-USD) starts Xpring initiative aimed at enlisting entrepreneurs and their businesses to use XRP - the cryptocurrency and the smart ledger - to build an ecosystem around the crytocurrency, TechCrunch reports. At Ripple, we want to act as a proverbial spring for the most serious ones - making sure they have the key essentials to grow their businesses and prosper. This initiative was birthed from the need of entrepreneurs and developers to support the XRP Ledger with XRP-related projects. In the past, Ethan has worked as a Director of the Facebook Developer Network from 2009-2012, where he lead worldwide developer relations, operations, and product marketing for the Facebook API.

The aggregated results from several pilots of xRapid indicate that financial institutions facilitating payments on the corridor along the U.S. and Mexico recorded 40-70% savings compared to what they normally pay foreign exchange brokers. 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 flawless solution for existing problems in trade finance, identity, gaming and virtual goods, real estate, insurance, provenance, digital media, and many other industries.

Ripple Chief Market Strategist Cory Johnson discusses how his company is using XRP technology to help startups. "At Facebook, we saw companies in areas like gaming, music, and news uses our platform to become big businesses", said Ethan Beard. He said they are focusing on proven entrepreneurs that can use XRP and the smart ledger to actually address the issues of their customers. You can learn more about Coil here. The new Xpring project will encourage developers and entrepreneurs to contribute to the Ripple ecosystem and create services for XRP, which is now the third-highest ranked cryptocurrency.

Blockchain technology and digital assets like XRP will provide artists with new distribution channels and revenue streams.

Classifieds renting service Omni has also come forward with promises of integrating XRP into its marketplace. Just last month, they invested $25 Million in XRP to Blockchain Capital's $150 Million VC Fund. Blockchain Capital now manages over $350 Million in assets including investments in companies like Coinbase, Circle and Kraken. "This creates more space for artistic freedom, and I'm excited our team is among the first in the entertainment industry to lean into the blockchain movement".

Since XRP tokens now have limited (but growing) use-cases, the new initiative could bolster its already-large market cap.

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