Ripple Giving 1 Billion XRP to Developers to Accelerate Creation of New Use Cases on the XRP Ledger

Ripple, the San Francisco-based cross-border payment firm, has announced that it is committing 1 billion XRP worth $800 million at current prices, to accelerate development and new use cases on the XRP Ledger.

According to a blog post, the 1 billion XRP is an extension to Ripple’s XRPL Grants program, which was launched in 2021 and has awarded $6 million in funding so far. The funding was received by over 50 open-source projects built on top of the XRP Ledger.

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The blog post reads in part as follows:

“Getting started on the XRP Ledger (XRPL) should be easy, and scaling a project to real-world implementation shouldn’t be slowed by barriers to entry like capital, experience, and resource dependencies.

“That’s why Ripple is making a 1B XRP commitment to the XRPL Grants program: to provide long-term resources to support global developer projects built on the XRP Ledger, and continued commitment to fostering this community and supporting their work.”

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According to the firm, the grant is targeted at providing the opportunity for any developer to join the XRPL community and leverage the features of the carbon-neutral public blockchain, such as speed, cost efficiency, scalability.

Ripple added that superior technical capabilities in combination with expert business support will enable developers to transform their knowledge into a use case or business idea on the XRP Ledger.

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