Blockchain payment company Ripple has invested $750,000 in a move to adopt XRP cryptocurrency on BRD, a cryptocurrency wallet provider.
The move has been hailed by many as a step in the right direction towards integrating XRP into BRD’s wallet apps. Ripple made this investment through its Xpring program.
On Friday, Ripple announced that the program would accommodate both iOS and Android apps.
Once they have completed the integration, it will be easier for BRD users to hold, buy, or sell XRP anywhere in the world.
Similarly, BRD has claimed to have more than 2.5 million users spread across 170 countries in the world. That’s a huge market for any firm that wants to invest.
According to BRD’s CEO and co-founder Adam Traidman, BRD is present in major markets in the world, including countries like Japan, the U.K, Germany, Australia, Canada, and the U.S.
The wallet also has a wide range of tokens it supports. Currently, it supports Ether, Bitcoin, and Bitcoin Cash.
Traidman also said that the firm is very much interested in supporting the wider XRP community. According to him, the time has come for BRD to be the easiest and cheapest place to buy XRP.
Vice President of Ripple’s Xpring Unit, Ethan Beard, commented that Ripple has been helpful to help others adopt XRP.
With the firm’s approach, consumers have been able to on-ramp about $60 billion in traditional currency trading. He further stated that BRD is the type of partner to have when looking for expansion and solving real-world issues.
As an absolute non-custodial wallet, BRD has made it easier for consumers to take charge of their funds, according to Traidman.
It also allows consumers to trade cryptocurrencies whenever they want.
With this BRD’s approach, it is very easy to install the app without submitting personal information. In this case, they are confident of security while having a great user experience.
BRD’s total funding runs in multi-millions
Traidman emphasized that BRD has investment funding of about $56 million. However, he didn’t disclose the company’s revenues or valuations.
BRD had raised about $32 million in the form of utility token to its users.
It is used to offer bonuses and rewards to its token holders. The idea behind this listing is to be certain of the liquidity of the token.
The firm is listed on Binance and other top exchanges. With all these changes, there is strong evidence that its partnership with Ripple will be beneficial to all parties involved.
However, it seems the firm will slow down a bit before thinking about raising more funds. Right now, it wants to focus on large financial enterprises and crypto developers.