Today, we’re excited to announce that Ripple has acquired Logos, a startup developing a turnkey payments solution focused on speed and scalability. The talented Logos team will be joining Xpring to expand on our shared vision of building the Internet of Value. Xpring continues to see more and more interest from entrepreneurs and developers to build on the XRP Ledger and as the XRP ecosystem grows, Xpring is dedicated to help companies create and scale projects and new uses cases.
We met the Logos team earlier this year, as part of Xpring’s ongoing efforts to build an ecosystem around XRP and the Internet of Value. As we got to know the team, it became clear that we share a vision for the future of blockchain and how digital assets like XRP can transform how money moves.
We were incredibly impressed by the caliber of the team and their thoughts around scalability and consensus. As part of Xpring, the Logos team will be leading an ongoing initiative to explore a decentralized financial (DeFi) system that will leverage XRP at its core, as well as other ideas we are exploring to leverage crypto to transform payments and finance. The Logos team will bring even more horsepower to what the Xpring team can deliver.
Michael Zochowski, Logos’s founder and CEO will serve as Xpring’s Head of DeFi Products and will continue to lead the team, leveraging the broader resources and relationships that Ripple offers to accelerate execution on DeFi. Michael and the team will be based in Ripple’s New York office, and we are excited to be building out our engineering presence in NYC.
Xpring started in May 2018 as a team of two, with three investments — in the time since then, we’ve grown to dozens of people, have supported more than 20 companies, and have commited over $500M to the ecosystem.
To this day, the vision at the heart of Xpring remains the same, but our approach to how we reach our north star has evolved. Our focus is two-fold: helping innovative blockchain projects grow through partnership and investment, and building the best crypto infrastructure to grow the XRP ecosystem. As we continue to build, it’s more important than ever to bring on board teams that are as passionate as we are about bringing the Internet of Value to life.
We are excited to welcome our new Xpring team members, and more than anything, we’re looking forward to what we can build together.