Investment in Towo Labs by Xpring

Swedish startup Towo Labs receives an investment by Xpring, Ripple’s investment arm. The platform also gave financial aid to other Crypto projects.

The Swedish Crypto startup Towo Labs received financial help by Ripple’s investment arm Xpring, funding Towo Labs roadmap for the next two years to develop hardware wallet firmware, a trustless web interface to the XRP Ledger.

Xpring made the announcement in a post on their blog that they plan to start an updated version of XRP Toolkit and a firmware for hardware wallet that supports XRP Ledger transactions.

Another announcement on Twitter:

https://twitter.com/TowoLabs/status/1184363913061765120

Towo Labs also stated the new firmware will support cross-currency payments, trust lines, orders and other useful functionality. It will be possible to prepare any transaction type, even from potentially compromised computers, while reviewing and securely signing them inside a hardware wallet.

Xpring had another major investment in a Crypto wallet BRD which helps users to hold, purchase and spend their XRP tokens through the aforementioned wallet. The announcement may have suggested this is a potential for whole financial services like banking or lending with no intermediaries.

This month another exciting announcement followed in the likes of BitPay partnering with Xpring to support XRP payments. This will allow international companies to accept XRP with the payment processor without integration.

And the last announcement from the following companies is Ripple’s expanding with the help of the trading firm Algrim in Iceland. This will make Iceland one of Ripple’s engineering hubs alongside with London.

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