Xpring was initially launched in mid-2018 as a venture arm of Ripple, the company.
Over ~18 months Xpring allocated approximately $500 million in capital across various startups and projects aiming to build new use cases to enable the Internet of Value.
One of the things that we consistently heard while working with these developers and entrepreneurs, is that capital is only part of the equation needed to build successful products. What developers really need is access to basic libraries, tools and services to help them build their applications.
So in October 2019, we re-launched Xpring as an open developer platform for money. While we still allocate capital to enterprising projects that help to bring money to the internet, we are primarily focused on making it easier for developers to insert payments into the applications.