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XRPL Labs Working On Very Own Decentralised Exchange

XRPL Labs Working On Very Own Decentralised Exchange
Breaking News / Ripple

The subsidiary of Ripple, Xpring (pronounced Spring) is getting ready to invest in XRPL Labs which is a new firm created by the popular XRP developer Wietse Wind.

Ripple announced Xpring last May saying that there are thousands of interesting entrepreneurs flooding into the space and they want to act as a proverbial spring for the most serious ones by making sure they have the vital essentials to grow their businesses and prosper.

“Xpring is a new initiative by Ripple that will invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs. Every entrepreneur will use the digital asset XRP and the XRP Ledger, the open-sourced, decentralized technology behind XRP, to solve their customers’ problems in a transformative way.”

XRPL Labs is working on several projects including the decentralised exchange, mobile wallet and cold storage operating system. Ripple is starting to invest an undisclosed amount in XRPL Labs which will allow the XRP developer to work on the projects full time along with two workers.

Wietse created the widely used XRP Tip Bot all on his own. This bot makes it easier for users on Reddit, Twitter and Discord to send XRP to one another. In addition to this, the developer also uploaded the whole XRP ledger to BigQuery by allowing the crypto curious to look through transaction history and perform deep dives into the ledger’s data.

Vanessa Pestritto is the director of the project and says that the decision to invest in XRPL Labs was a no-brainer and an obvious choice:

“At Xpring, we are focused on growing the ecosystems around the Interledger Protocol and XRP Ledger. To do so, we need to work with developers that share our vision of interoperable blockchains and new use cases for XRP. One of those developers is Wietse Wind. Wietse not only has excellent past experience, but understands the protocols and technical details of both the XRP Ledger and Interledger Protocol.”

Pestritto continues saying:

“Wietse is a proven entrepreneur and has successfully grown his companies organically. He has built a technology consulting company, which serves numerous clients ranging from larger scale companies to smaller offices. He’s also built and ran a software company that provided a platform as a service for rapid web development. 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.”

Ripple say that the funding is designed to give Wietse both time and space in order to develop independent projects of his choosing without direct oversight.

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