Xpring, Ripple incubator and investment arm have spent $500 million since its launch in May 2018 on XRP projects, as per an official blog post on July 2.
According to reports, funds were distributed to more than 20 companies, including Forte, a blockchain-based gaming platform. According to the report, Xpring’s investments focus on Ripple’s XRP token use cases. They want to facilitate development and support developers by providing tools, libraries, and services to developers on the XRP Ledger, and Interledger protocols.
Xpring also has a dual-pronged approach to creating more use cases through infrastructure development and innovative project creation. The firm cited several examples of infrastructure development that contributed to the XRP Ledger, Interledger protocols, i.e. The native Ripple ledger, and a protocol to enable blockchain interoperability.
Xpring also announced that it is looking into decentralized financing and may invest crypto-based solutions in aspects of finance such as debt and derivatives.
Ethan Beard, an ex-Facebook Developer Network Director was named Senior Vice President of Xpring and Ripple’s developer program. Ripple was also mentioned at the time as financing Xpring. However, Xpring would be independent from Ripple.
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