Ripple (XRP) Commits $25 Million To Digital and Blockchain Businesses
As innovations are coming in from blockchain industry, it takes a keen observer no time to identify it. This can be said of Ripple. The digital currency and global money transaction firm is investing $25 million into digital and blockchain startups.
Made in XRP, the $25 million investment is to be managed by Blockchain Capital Parallel IV, LP. The angel capital firm is seen as the first fund to accept capital calls in digital assets with concentration on the development of the blockchain space.
What is Obtained in the Ripple Investment?
According to Ripple, Blockchain Capital has approximately $150 million fund under its watch. The investment firm is expected to invest in entrepreneurial teams that are blockchain-focused. Not only that, the investment is expected to provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol, Ripple has said.
According to Bart Stephens, co-founder and managing partner of Blockchain Capital, the capital firm is a pioneer in the blockchain sector, it has been at the fore and in the trenches with their portfolio companies, like Ripple, which is designing a new crypto ecosystem.
Bart made known that it saw opportunities for distributed ledger technology in healthcare and identity management.
“Whether it’s using XRP, bitcoin or just the underlying blockchain technology, our goal is to find the best projects and give them the resources to be successful companies that deliver value to customers for the long term,” Bart said.
Meanwhile, talking on the latest development with Blockchain Capital, Ripple’s SVP of Strategic Growth, Patrick Griffin, reiterated that “Blockchain Capital is the premiere fund for any project looking to get off the ground in the blockchain space. They have a proven track record for finding and funding the projects that matter.”
“This is the first fund that we’ve contributed to, and it won’t be the last. We plan to be major players in shaping the future generation of blockchain or crypto companies.”
The reason behind this investment, according to Ripple is that the firm believes in supporting the XRP Ledger and Interledger Protocol, at the same time, the cryptocurrency firm is ready to continue to seek opportunities and support entrepreneurs, companies and funds that share this vision.
Blockchain Capital is blockchain-centred venture investor, founded in 2013 to help entrepreneurs invest ideas, build companies, and manage projects on blockchain technology. The San Francisco is flaunted as one of the oldest and most active venture investors in the blockchain technology sector. Since it was created, the venture has financed 72 companies, protocols and tokens.