Big Things In The Making For XRP As Ripple Invests In An Innovative Swedish Start-Up

Ripple Explores Massive Enhancements to the XRP Ledger, Plans to Improve the Network’s Decentralized Nature

The XRP space is set for more refined notions after Ripple made a move to team up with another innovative startup on October 16. Following the deal, Ripple’s Xpring announced that it will be investing in the Swedish company named Towo Labs. 

Towo Labs is developing some impressive open-source firmware meant to support the XRPL (XRP Ledger). If all goes well, XRP fans will have access to 17 transaction types offered on the XRPL. 

The Team

According to information revealed by Ripple’s XPring, Towo Labs is the team behind the development of the XRP Toolkit. The Toolkit allows users to the XRP Ledger via a web interface.

The team is made of just 3 people, namely Markus Alvila, Silas Lenz, and Patrik Sletmo. Markus is also the startup’s founder. Advisors to the 3 software engineers include Wietse Wind and Matvey Mukha. Wietse is the founder of XRP Labs while Matvey is the founder of Secalot. 

Support for Projects

In a special post shared on Coil, Alvila intimated that the team’s innovative solutions will offer support to all XRP-related transaction types availed on hardware wallets. The said wallets include Trezor T, Ledger Nano S, and Ledger Nano X. Also, the team will implement a new XRP Toolkit via a web-based application. However, the application will support offline access via Windows, Linux, macOS, iOS, and Android.


The new partnership adds to the growing number of the various startups teaming up with Ripple in support of XRP. However, it’s not yet clear if the move will affect XRP’s market price.

Still, there are those who feel that the crypto is now ready for a serious price jump. Indeed, some are still talking of XRP reaching heights of $4 soon. Either way, time will surely tell.