Ripple is investing in a company working on simplifying crypto wallets.
The Swedish start-up Towo Labs is receiving funds from Xpring, Ripple’s investment arm, according to Marcus Alvila, the start-up’s founder.
Ripple’s cash will fuel the development of hardware wallet firmware that supports all XRP Ledger transaction types, as well as “a trustless, non-custodial web interface to the XRP Ledger.”
Towo plans to develop hardware wallet firmware with full XRPL support for Ledger Nano S, Ledger Nano X and Trezor T.
Says Alvila,
“Today’s existing firmware only supports XRP payment transactions, which in some cases block further XRPL and Interledger innovation. The new firmware, however, will support the signing of cross-currency payments, trust lines, escrows, orders, payment channels, account settings and so forth.
With full XRPL support among the leading hardware wallets, transactions can be prepared from untrusted devices and applications — for example, over the web — before being reviewed and securely signed inside a hardware wallet.”
Towo Labs will also use Xpring funding to upgrade its “XRP Toolkit.” The move is another strategic step toward mainstream adoption, as the toolkit allows users to manage their keys and execute all types of XRPL transactions via the Secalot wallet, according to Vanessa Pestritto, Xpring’s director of strategic growth.
Says Alvila,
“The new version will feature a more user-friendly design, landing page and user documentation, support for all 17 XRP ledger transaction types and complete hardware wallet support.
The new XRP Toolkit will also be implemented as a progressive web application (PWA) with offline support for Windows, macOS, Linux, Android and iOS.”