Ripple's Xpring to Ensure XRPL Integration in Top Hardware Wallets by Investing in Towo Labs

Libra Coin News
Wed, 10/16/2019 - 13:05
Yuri Molchan
Towo Labs software producer receives a strategic investment from Xpring to enable XRP Ledger’s integration in top cold wallets – the Ledger Nano series, Trezor T
Cover image via www.123rf.com
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Ripple keeps broadening its circle of partnerships both by collaborating with banks and by supporting young startups with investments.

This time, Ripple’s investment arm, Xpring, has offered an investment to a Swedish firm, Towo Labs, a maker of firmware for hardware wallets. Now, top-of-the-line hardware wallets will support all sorts of transactions on the XRP Ledger and the XRPL will get a non-custodial web interface on those devices.

The invested amount was not disclosed.

XRPL transactions to launch on the Ledger Nano series and Trezor T devices

The investment from Xpring assumes that within the short term, Towo Labs will integrate support for all types of XRPL transactions on top hardware wallets, such as Ledger Nano models and the Trezor T device.

The present firmware for those wallets only allows for XRP payment transactions and sometimes just blocks further innovation of XRPL and Interledger. The blog post says:

“The new firmware, however, will support the signing of cross-currency payments, trust lines for IOUs and tokenized assets, escrows, orders, payment channels, account settings and so forth.”

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Xpring launches its own developer platform

Previously, U.Today reported that Xpring had announced the upcoming launch of its own platform for dApp makers.

Xpring is busy working on a software toolset that will allow developers working on the XRPL to easily integrate payments options in their dApps. The toolset will allow any crypto coins or fiat currencies to be used.

“This new platform offers a set of tools, services and programs that makes it easier for developers to send and receive payments by building on the XRP Ledger and leveraging Interledger Protocol (ILP) as a bridge to any currency, fiat or blockchain. In short, the Xpring Developer Platform removes the pain and messiness of integrating money into apps.”

Now, the new platform will enable XRPL-based dApps to use XRP for bridging crypto and fiat currencies.

 

What is your opinion on the new Xpring investment? Feel free to share it in the comments section!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.