The programme is called Xpring, pronounced ‘spring’. According to a press release, it will “invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs.”
One condition for acceptance is that the companies use the XRP ledger in their structure. The XRP ledger is the blockchain behind the Ripple token. According to the official website: “XRP is a digital asset native to the XRP Ledger. Anyone with a cryptographic key and an internet connection can receive, hold, and send XRP to anyone else. XRP’s creators have developed it to be a desirable bridge currency that can facilitate trades in any other currency.”
Recently Ripple announced successful money transfer transaction between the US-Mexico using its XRapid service. The money passed through the ledger as part of the transfer process.
According to Ripple, Xspring is already vetting hundreds of projects. It names a few which have already been approved: SP Projects, which aims to allow artists of several disciplines to profit from their work through XRP; Coil, which was created by the ex-CTO of Ripple and will use XRP to facilitate “micro-payments”; Omni, an XRP-powered rental and storage company; and Blockchain Capital, a venture capital firm.
With all these positive fundamental data flowing in into Ripple, i see a brighter long term future for the crypt0! Its current trading price as of this time on coinmarketcap.com is $0.75 while Etherum is currently trading at $736.