Thursday, 24 January, 2019

Ripple Invests $25M in Blockchain Capital's Latest Fund

Ripple Invests $25M in Blockchain Capital's Latest Fund Ripple Invests $25M in Blockchain Capital's Latest Fund
Sherri Watson | 13 April, 2018, 16:31

The investment should provide a window into the ways the company's blockchain as well as its digital token XRP could be utilized outside of payments, according to Ripple's blog.

Ripple has invested $25 million in XRP to Blockchain Capital Parallel IV, LP - the first fund to accept capital calls in digital assets - and focus entirely on the development of the blockchain space.

Now, this isn't an option at most venture capital firms, which are making investments in crypto-related projects but don't typically accept fundraising contributions in the actual cryptocurrencies. In total, the company now manages $250 million in assets, with venture partners like Coinbase, Kraken, and Circle as part of its investment portfolio.

"Blockchain Capital is the premiere fund for any project looking to get off the ground in the blockchain space".

Ripple is aiming at seeing that same kind of relationship happening between their established technology and entrepreneurs who can use it to build companies with funding from the Blockchain Capital fund.

"There are entire verticals - such as healthcare or identity management - that could benefit from blockchain or distributed ledger technology", said Blockchain Capital's co-founder Stephens.

"Crypto is not a get-rich-quick scheme, it's a technological revolution with the potential to disrupt the fundamental tenets of global financial systems."

Ripple hopes innovative startups will use its native protocol to come up with innovative applications in a variety of different sectors. The investment will also provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol.

Ripple's chief market strategist, Cory Johnson, told CNBC, "We absolutely are not a security". "If somebody starts the next Uber, or Instagram or Salesforce using XRP, that would be great for us, " Johnson said.

"This is the first fund that we've contributed to, and it won't be the last", Patrick Griffin, senior vice-president of strategic growth at Ripple, said in a statement Wednesday. The company has announced partnerships with numerous major money transfer companies in the United States, including MoneyGram and Western Union. Share your views in the comments section.