- Ripple Has Acquired Logos to Expand its Internet of Value Vision
- Partnership with Logos Shows That Both Entities Share the Same Vision
It appears Ripple has made another huge move in broadening its mission to expand the Internet of Value. The digital asset platform has made a move by acquiring crypto startup, Logos. Logos is a crypto-payments solution that is focused on the areas of speed and scalability across others. The new partnership will help drive Ripple’s mission to expand the Internet of value.
XRP (XRP) Price Today – XRP / USD
The report puts it this way: Logos will joining Xpring, the Ripple initiative. The primary objective of the initiative will be to expand Ripple’s vision of broadening the Internet of Value. It also adds that after the collaboration, Michael Zochowski, the founder and CEO of Logos will serve as the Head of DeFi Products at Ripple’s Xpring.
Per the report we also understand that “Logos’ team will bring more horsepower to the Xpring team.”
Partnership With Logos Shows That Both Entities Share the Same Vision
Speaking in a blog post, the senior vice president of Logos Ethan Beard said the partnership between Logos and Ripple is the result of both entities having a single vision. “This vision is the goal of creating the Internet of Value. Beard says after knowing the team, it was clear that both entities shared a common vision for the future regarding Blockchain technology. They also agree on how XRP can transform the way money moves.”
Logos, a start that aims to improve the scalability of transfers, will focus on the creation of DeFi (decentralized finance) solutions for Ripple’s XRP.
Michael Zochowski, the founder and CEO of Logos will continue leading the team. He will help in leveraging the broader resources of Ripple and the relationships that the network offers to facilitate execution on DeFi. The team and its leader Zochowski will be based in New York. Precisely Ripple’s NY office. Logos said that it is happy to build their engineering presence in the city of NY.
About Ripple’s Xpring
Xpring was launched in May of 2018. The company started as a team of two. Xpring has supported no less than 20 companies. The company has committed $500 million to the Blockchain ecosystem. In just under two years, Xpring has invested the $500 million into projects that facilitate XRP’s adoption.
Xpring’s most recent acquisitions include digital currency ATM chain CoinMe. Another one is Coil, the content monetization startup. CoinMe received 1 billion XRP in funding. Now Logos has joined.