Toast Wallet recently announced about their upcoming plans on adding support for a feature which is now most known as Issue Own Currency. This feature allows the users of the platform to issue an ICO on the Ripple network. The information was posted on the official Twitter page of Toast Wallet which also stated that the new addition will be concluded by next week.
Toast Wallet also confirmed that they will be adding many useful features which will accompany the update to make it even more flexible. According to the statement, this is going to be their “largest feature set”. The statement clarified that the entire process of creating own ICO on the Ripple network will be made as easy and simple for the users as possible. The company also confirmed that full trustline as well as full token trading support solutions are also going to be added to the update in order to make the entire process as smooth as possible.
Meanwhile, the fact that the XRP Ledger allows the formulation of ICOs on its network may rather be considered as unknown due to ICOs being restricted to Ethereum and similar blockchains.
As many would remember, earlier this year, a Brazilian company called Allvor, which is focused on streamlining digital payments, was reported to choose the XRP Ledger platform in order to run their token-based business. Ripple however later on officially announced about not supporting these ICOs on their platform as the information started spreading actively. According to the spokesperson of Ripple back then, as XRP Ledger is an open-source and decentralised platform, the users are naturally free to build whatever they want on the network; Ripple however is officially not interested in supporting or promoting ICOs on its network.