Xpring Ripple Provides Financial Support for XRP Based Xumm Wallet

Ripple has announced its investment in XRPL Labs, the company that builds software for XRP Ledger, through its Xpring initiative.

XRPL Labs will use the newly injected funds to support the “sustained growth and development” of the XRP-based Xumm Wallet (pronounced “sum”).

“We look forward to seeing Xumm, and the XRP community that supports it, grow even more with this funding.”

More than ordinary Wallet

Xumm Wallet was created by Wietse Wind, one of the most prominent developers in the XRP community.

This offers users the opportunity to almost instantly deposit and withdraw XRP to non-custodial accounts. So they become their own bank by keeping their private key.

This app goes beyond a number of features offered by cryptocurrency apps.

Due to the decentralized exchange embedded in XRP Ledger, Xumm users can also add other assets, including issued fiat currency. Xpring’s head of developer relations, Warren Paul Anderson explained that the whole process was “less than 20 minutes”:

“The Xumm app makes the experience so easy that users can go from the first step of key generation to having USD issued currency in their wallet in under 20 minutes.”

The wallet also supports Ripple’s PayID solution which aims to make receiving payments as easy as email.

Productive developer

While commenting on the investment, Wind tweeted that he would be happy to deliver new products for XRP Ledger “for years to come”:

“Very proud, and very happy to build using, on, for […] XRP Ledger for years to come!”

Wind also developed the XRP Tip Bot that allows sending micropayments with XRP on Twitter, Reddit, and Discord.

As reported by MediaAuthority, the bot became active on Uphold Exchange in May.

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