“We\u2019ve made investments in DeFi companies in the past. We invested in Securitize and Dharma, but it\u2019s now an area where we\u2019re building.”<\/p><\/blockquote>\n
Xpring has been actively supporting various companies in developing the XRP ecosystem and has committed $500 million to 20 companies. Michael Zochowski, Founder and CEO of Logos, will take his place as Head of DeFi Products. Zochowski commented on the partnership, stating,<\/p>\n
“We expect that our team will work on a variety of projects at all levels of the Xpring platform, with a particular focus on enabling a wide range of Defi applications. We continue to strongly believe that the future of payments and finance lies in blockchain and decentralization.”<\/p><\/blockquote>\n
Xpring’s latest fundings include a $1 billion grant to Coil to build an ecosystem of developers, companies, creators, and nonprofits using XRP through web monetization. Even though all the investments made by Xpring are available, the details of this acquisition are still under wraps for now.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ripple has been taking great strides to promote XRP’s adoption and it has now, taken its first step towards embracing Decentralized Finance [DeFi] with its acquisition of the Logos Network. Ripple’s investment arm, Xpring, will deploy nine engineers to build DeFi products based on XRP. Ethan Beard, Senior Vice President of Xpring, announced the newsContinue reading “Ripple acquires Logos Network; plans to develop Internet of Value through DeFi products”<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":105918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[18,3,55,4,20],"tags":[98],"class_list":["post-105898","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hide-cryptopanic","category-news","category-xrp-ripple-news","category-social","category-trading-view","tag-logos"],"acf":[],"yoast_head":"\nRipple acquires Logos Network; plans to develop Internet of Value through DeFi products - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Ripple has been making strides for XRP's adoption and has taken its first step towards embracing the decentralized Finance [DeFi] with its acquisition...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/ripple-acquires-logos-network-plans-to-develop-internet-of-value-though-defi-products\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple acquires Logos Network; 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