Mobile wallet provider BRD is partnering with Ripple's Xpring to boost XRP adoption.
The companies announced Friday that Xpring would invest some $750,000 into BRD as part of its efforts to "build the internet of value." As part of this new "strategic partnership," BRD will integrate XRP and begin building on Xpring's developer platform.
"The partnership and investment will enable BRD users to hold, buy, sell and send XRP to anyone in the world," a press release noted.
Ethan Beard, senior vice president of Xpring, praised BRD as "one of the oldest and most respected" mobile wallet providers in the space. He said in a statement that the wallet is aiding in mainstream adoption of cryptocurrencies, adding:
"We’re incredibly excited about joining forces with Ripple to bring XRP to our user base," BRD CEO and co-founder Adam Traidman said in a statement. "Ripple understands the need for a strong wallet partner as they push into key markets like cross-border banking and remittance, so we are thrilled to help them achieve their goals. In addition, it is our plan to have BRD be the cheapest and easiest place to buy XRP moving forward."
BRD announced support for XRP earlier this month, after Xpring began offering a software development kit for companies to integrate XRP and fiat payments into different applications. The wallet already supported bitcoin, bitcoin cash, ethereum, ERC-20 tokens and DAI, with customers able to purchase bitcoin, ethereum and DAI using ACH wire transfers.
The company currently offers its iOS and Android apps in some 170 countries.
Xpring's Ethan Beard image via YouTube/Ripple
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.