Ripple invests $500,000,000 into its own XRP Ecosystem

By XRP_Gato | XRP community | 1 week ago

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Well, it seems that Ripple is ready to pump some serious amounts of cash - half a BILLION DOLLARS -  into their overall ecosystem surrounding their XRP token. The investment is coming from XSpring, Ripples ecosystem initiative created with the simple goal to build the Internet of Value around XRP. XSpring are focused on 2 areas which are;

 

  1. Build a cryptocurrency infrastructure through contributions to open source crypto protocols such as the XRP Ledger
  2. Help innovative blockchain progress growth through partnership and Investment.

 

The team over at XSpring have started to invest their $500 million into 20 different projects in the blockchain space with the ultimate goal to build an ecosystem around XRP. 

It seems that they may be doing this as to help bring about a real use case for XRP - which is a good thing as it will help their own argument if the SEC does come around knocking.

One of the most interesting is the $100 million fund provided to the game startup Forte. XSpring have provided $100 million to Forte in order for them to start to develop games that use XRP - a decent amount for any game startup company.

According to Brett Syler, co-founder of Forte, their In-house team have already built a developer platform that allows a variety of technologies to come together to provide a seamless experience for developers. Forte is now using the $100 million to reach out to developers to come and build on the platform they have built.

A further $20 million was also pouted into Coil - a micropayments service designed for content creators. Some other interesting projects on the list included investments into Bolt Labs - a privacy-focused payments channel network that scaled off-chain transaction - and Dharma - a P2P Lending network where users can lend and borrow cryptocurrencies.


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