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Ripple injects BRD crypto wallet with $750k investment

Ripple funds BRD crypto wallet with 750k

Ripple, the company behind the XRP token, has decided to invest more than $750,000 in the BRD crypto wallet, in order to boost the use of the token.

Ripple has been facing severe legal challenges in recent months, which led to a drop in the number of XRP users. Consequently, the company is now looking into ways to boost their stats and attract a new customer base. 

BRD crypto wallet

BRD, previously called Bread, is a cryptocurrency wallet provider, which claims to have more than two and a half million users globally.

The BRD crypto wallet was created in Switzerland and has been gradually expanding in terms of its user base. Thanks to this investment through Ripple’s Xpring initiative, BRD will be able to incorporate XRP support across all of its products.

For the moment, the BRD crypto wallet supports a very limited number of popular tokens like Bitcoin, Ether, and some ERC-20 tokens. According to Adam Traidman, Chief Executive Officer of BRD, the incorporation of XRP support is a huge step forward for the BRD crypto wallet.

Expanding the customer base

Over the past several months, Ripple has been in a constant legal struggle after a group of former XRP holders accused the company of violating securities laws in the United States. 

Because of the negative press mentions about the company, many XRP holders have become hesitant about the token’s prospects. 

This is why Ripple is actively looking to promote XRP by spreading it to more wallets and finding projects to invest in through the Xpring initiative. 

Luckily, US courts seem to be on Ripple’s side so far, and the case is probably going to be thrown out.

Tina Yordanova

Tina Yordanova

Back from her stint with European Central Bank, Morgan Stanley, Barclays, Societe Generale, Hilton Hotels, and Aviva International, Tina rejoins Cryptopolitan with a deeper insight regarding the financial world, blockchain enterprises and institutions and practices involved in it. She is eager to share her rounded perspective honed from the biggest media analysis companies on the Balkans.

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