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Ripple's fundraising arm, Xpring, has invested in XRPL Labs, a start-up that develops applications for the XRP ledger, the company announced in a blog on Feb. 13.
Xpring's director, Vanessa Pestritto, announced that Wietse Wind, a long-time developer of the XRP community and one of the three co-founders of XRPL Labs, is a "proven entrepreneur" who "has been successful in growing his business so organic". According to Pestritto, The decision to invest in the startup was motivated by the creative approach of Wind and its ability to engage developers.
Pestritto believes this funding will help Wietse and its partners spend more time building XRP Ledger-based projects, which include Wind's recent tool for streaming payments for electricity.
The exact amount of investment has not yet been disclosed at press time.
Wietse recently paid tribute to Xpring for its Twitter, promising to develop more "killer apps XRPL" soon.
Ripple recently announced version 1.2.0 of XRP Ledger, which aims to improve the censorship resistance of the protocol.
Earlier this week, Ripple, the Mastercard Foundation, the MIT Media Lab and Barclays have invested in SendFriend's fund-raising company, which uses Ripple's xRapid product for cross-border payments. The company raised $ 1.7 million in its first round of financing.
Another significant new investment, Chainalysis, based in New York, raised $ 30 million for a round of financing Series B led by the venture capital giant Accel.
Also this month, Dharma Labs, a San Francisco-based blockchain lending company, raised $ 7 million from several major investors, including Green Visor Capital, Coinbase Ventures, Polychain Capital, Pbadport Capital and Y Combinator.
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