Ripple is revealing more on its multi-million dollar plan to grow the digital assets ecosystem and bring distributed ledger technology to the masses.
At a recent roundtable hosted by Amazon Web Services in New York, the director of strategic growth at Ripple’s investment arm Xpring offered a look at the company’s overall strategy. Vanessa Alexandra Pestritto says Ripple is pushing to grow the blockchain industry at large in addition to boosting cross-border payments and use of the world’s third-largest cryptocurrency by market cap, XRP.
“From an industry standpoint, we believe that there’s going to be multiple ledgers that will be used in different verticals. We don’t think it’s just going to be one to serve them all. So when we take a look at different investments we’d like to make or people we’d like to partner with, we are looking at the infrastructure layer and seeing who also has the alignment of values and view of interoperability.
I recently made an investment in Agoric, and that is a secure smart contract platform that can integrate into other layer ones. And this is going to allow for the ability to eventually make cross payments into other chains, but that’s deep and way ahead in the future. But that’s how far ahead we’re thinking.
The next area is decentralized finance. We’ve been spending a lot of time there at Xpring and taking a look at where there might be some opportunities for new decentralized BitMEX platforms or what might a new derivatives exchange look like. We’ve also been spending time looking at new synthetics, and some of the earlier DeFi companies have created a nice guild. And so we’ve been closely working with them and seeing how we can be of service to help them progress along because we believe it’s going to be huge and that we’re best collaborating with them up front.