Ripple, the US-based creator of a financial transfer system equipped with blockchain technology, has formed a corporate venturing scheme called Xpring.
Xpring will incubate, acquire and supply equity and grant funding to startups or projects that use Ripple’s XRP digital asset and ledger technology. It will be run by recently-hired senior-vice-president Ethan Beard, who will also lead Ripple’s developer initiative.
Beard said: “Blockchain and digital assets have the ability to solve important problems and XRP – with its speed, scalability and demonstrated real-world use case – is a great tool for startups and entrepreneurs to build businesses around.”