Ripple: XRP Has Many Use Cases 'Above and Beyond' the World of Banking

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Ripple is exploring new ways to broaden the adoption of XRP beyond the world of banking.

At the PreMoney crypto conference in San Francisco, Ripple’s senior vice president of Xpring, Ethan Beard, expanded on the company’s efforts to grow the XRP ecosystem through Xpring.

“With Xpring, we’re focused on the broader XRP ecosystem. Ripple, as a company, focuses on the Internet of Value – helping money move as easily as data. Our core business being ‘helping banks move money – mainly across border’ and we’ve got great momentum there.

At the same time, we think XRP and the XRP Ledger has a lot of use cases above and beyond what’s going on in the banking world. And so, with Xpring, we’re actually looking to identify, amplify, and help those projects take off and get off the board.”

The company launched Xpring in May, with the mission of providing investments and grants to entrepreneurs that utilize the XRP token and the XRP ledger.

“As a major contributor to the XRP Ledger codebase and large holder of XRP, we often hear from entrepreneurs and developers that they’d like support in one form or another to help them with their XRP-related projects. As one of the few blockchain companies with traction for a non-speculative use case, we feel we’re uniquely positioned to support entrepreneurs in a meaningful way.”

Ripple says it’s focused on investments in identity, trade finance, gaming and virtual goods, provenance, real estate, insurance and digital media, among other industries. So far, the company has announced a handful of the investments it has made through Xpring.

SB Projects, which is working to use XRP to improve artists’ ability to monetize and manage their content
Coil, which allows web surfers to reward internet content creators by donating XRP
Omni, an on-demand storage marketplace integrating XRP as a currency
Blockchain Capital, a crypto and blockchain venture capital firm that’s also exploring new use cases for XRP