Ripple’s Xpring Invests in Crypto Wallet Provider BRD to Integrate XRP

Published at: Oct. 11, 2019

Ripple’s investment arm Xpring has invested into cryptocurrency wallet BRD to enable users to hold, purchase, sell and spend XRP tokens through the wallet.

Xpring announced the development in an Oct. 11 blog post, noting that BRD — a mobile cryptocurrency wallet, with a reported user base of 2.5 million — will build on the Xpring platform to support and integrate XRP.

Large user base and geography

By selecting BRD, Xpring ostensibly focused on the wallet’s large user base and territorial coverage of 170 countries, as well as the company’s healthy growth in key metrics such as transaction volume. The post further suggests that this could result in new kinds of decentralized financial (DeFi) services, including banking, lending and peer-to-peer transactions that require no intermediaries.

This June, BRD partnered with blockchain payments and infrastructure firm Wyre to allow its United States-based customers to purchase cryptocurrencies using bank transfers. The new service is reportedly supported by over 1,700 U.S. banks, and ostensibly allows for purchases to register within five minutes.

Taking proactive investment approach

Xpring has made an array of notable investments in recent months, including a partnership with major cryptocurrency payment processor BitPay to let businesses accept XRP for payments via BitPay’s cross-border payments platform. As part of the cooperation, BitPay is also integrating its BitPay Wallet with Xpring’s developer platform.

In late September, Xpring onboarded Logos Network, a distributed ledger-based payment platform that focuses on speed and scalability.  Logos will be exploring a DeFi system that is set to leverage XRP at its core. 

In August, Xpring announced a 1 billion XRP (roughly $265 million) grant to web monetization platform Coil. The latter is reportedly supposed to utilize the funds to build an ecosystem of creators, developers, companies and nonprofits that use XRP through the Web Monetization open standard.

Tags
Altcoin
Xrp
Investments
Payments
Ripple
Transactions
Related Posts
Ripple’s xRapid Payments Solution is Now Commercially Available
Ripple’s real-time settlement platform xRapid is now commercially available, according to an announcement published October 1. xRapid is a platform designed to speed up international payments, while eliminating the need for a pre-funded nostro account. The product purportedly sources liquidity from digital currency XRP on exchanges globally, making cross-border transactions faster and cheaper compared to traditional methods. The pilot phase of xRapid was launched in May, with the participation of financial institutions and payment providers, such as MercuryFX and Cuallix. The participants in the pilot reported transaction savings of 40–70 percent, as well as an improvement in transaction speed — …
Altcoin / Oct. 1, 2018
Ripple CEO: Only 1% of Today’s Cryptocurrencies Will Survive
As many as 99% of all cryptocurrencies will likely go to zero, according to a new prediction by Ripple CEO Brad Garlinghouse. There are too many crypto projects, says Garlinghouse In an interview with Bloomberg released Nov. 5, Garlinghouse claimed that there are too many cryptocurrencies so far, forecasting that only 1% of all crypto is here to stay. That small number of crypto projects will be game-changing and grow significantly in the decades since they will be focused on solving real problems for real customers, Ripple CEO declared. Growth is caused by the hype around the market According to …
Adoption / Nov. 6, 2019
What are the most bullish cryptocurrencies to buy right now? | Find out now on The Market Report
The Market Report with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss what they believe are the top three most bullish coins one should take a closer look at. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as each makes his case for the most bullish cryptocurrency right now. …
Decentralization / May 3, 2022
XRP is for payments, Bitcoin for ‘speculation,’ says former US Treasurer
Amid the ongoing legal battle between Ripple and United States’ securities regulators, a former U.S. Treasurer and Ripple board member has voiced support for XRP. Former Treasurer Rosa Rios, who joined Ripple’s board of directors in May 2021, took to Twitter on Sunday to reiterate her confidence in XRP while criticizing other cryptocurrencies such as Bitcoin (BTC). Rios argued that jurisdictions like China are now cracking down on Bitcoin, as cryptocurrencies like BTC allegedly provide nothing more than a tool for speculation. Tagging Bitcoin, Ripple and its payment ecosystem, RippleNet, the former U.S. official wrote: “XRP’s primary purpose is facilitating …
Bitcoin / Sept. 27, 2021
Ripple acquires stake in cross-border payments firm
Ripple continues its push into the Asian market by acquiring a stake in a cross-border payments firm. According to a blog post, Ripple has agreed to acquire a 40% stake in cross-border payments firm Tranglo, with the aim to expand RippleNet’s On-Demand Liquidity, or ODL, service that uses the XRP cryptocurrency. The completion of this transaction is subject to regulatory approval, with investment firm TNG Fintech Group remaining the majority shareholder in Tranglo. The new acquisition is expected to significantly expand Ripple’s ODL corridors with Tranglo’s payments infrastructure. Founded in 2008, Tranglo is a cross-border payment processing hub supporting business …
United States / March 30, 2021