Xpring Invests in Towo Labs To Develop Software for XRP Hardware Wallet
Alo Kingsley Oct 18, 2019 07:40
Xpring, Ripple’s investment arm and tech incubator announced in a recent report that it has invested in Towo Labs, a Swedish cryptocurrency self-custody startup, to develop a software that will support XRP on a hardware wallet.
Xpring, Ripple’s investment arm, and tech incubator announced in a recent report that it has invested in Towo Labs, a Swedish cryptocurrency self-custody startup, to develop a software that will support XRP on a hardware wallet.
Xpring makes it clear that it was their response to such bothering questions like: "where can you spend XRP?" "What can you do with XRP?” and “What are the options to use XRP in a secure and accessible manner?” that made them classify usability as a top problem to cryptocurrency users. It is in this regard they have tried to build XRP hardware wallet firmware.
According to the announcement, Xpring claims that their choice to invest in Towo Labs will make it possible for holders of XRP to leverage all their transactions in a secure manner, which serves as a means to tackle or address the usability issues cryptocurrency users usually face.
It was Towo Labs that was charged with the launching of the XRP Toolkit. The Toolkit helps customers to manage their keys and carryout out all their transactions from the Secalot wallet. As it stands, Towo Labs will soon publish an updated version of the Toolkit so that customers can have the opportunity of enjoying a trustless, noncustodial web interface, complete support for all XRP transactions, and a total hardware wallet support.
Xpring says that they believe in the vision of the team, which includes adding transaction types to major hardware wallets. They are thus optimistic about seeing this vision come true.
Image via Shutterstock
Image source: Shutterstock
