News
Did Google Just Invest in a Startup XRP Ledger (XRPL)?
Certain speculations have flooded the crypto market regarding Google’s alleged investment in XPMarket, a GameFi and DeFi platform on the XRP Ledger (XRPL).
XPMarket receives US$200,000 grant from Google
Financial market reporter Zach Rector took advantage of X to suggest that Google has just supported startup XRPL by making a significant investment in its platform. He highlighted a previous XPMarket post announcing the funds it received from Google.
XPMarket noted that it secured a $200,000 grant from Google for Startups, not a direct investment. Of note, Google for Startups is a program launched in 2011 to provide practical classes for aspiring entrepreneurs and founders. To date, it has invested more than $50 million to support growing companies.
Distributing these grants is not equivalent to making an investment in any company. This implies that Rector may have been hasty in his statement about Google’s investment in XPMarket.
In the last 24 hours, XRP rose 0.89%, likely influenced by news of Google’s investment. The coin is currently trading at $0.5233.
In addition to the $200,000 grant, the Google for Startups Cloud program promises to provide other support, including technology and community networking resources. For the Web3.0 sector, the goal of this grant is to help these companies focus on innovation rather than infrastructure as they build the next Decentralized Application (DApp), Web3.0 tool, and more.
It is important to note that XPMarket is not the only Web3.0 platform that has received this grant from Google. A similar situation was observed in February, when NFPrompt has partnered with Google for Startups Cloud to fuel AIWeb3 innovation. The company leveraged Google Cloud’s cutting-edge technology and expertise to drive innovative solutions.
XRP Ledger Sees Multiple Adoption and Usage
In the meantime, XRPL has seen several new developments in recent weeks. Coingape reported that Ripple has signed a strategic partnership agreement with Evmos, an Ethereum Virtual Machine (EVM) chain designed with the Cosmos SDK, to build an EVM sidechain for XRPL.
The move integrates XRPL into Interchain and prioritizes bringing the XRP Army, DApps, and liquidity to a network of 90+ interconnected chains.
About two weeks ago, Curling also announced plans to merge forces with Hashkey DX, an arm of Tokyo-based digital asset financial services firm HashKey Group, to streamline XRPL-based solutions in the Japanese market.
See more information: Bitcoin Price Analysis: Why BTC Rises to $67K Suggests End of Correction