Ripple

Ripple invests $25 Million in XRP to fund Blockchain Development

Ripple announced that they invested $25 Million in XRP Blockchain Capital Parallel IV to drive in blockchain and digital assets.

Blockchain Capital is one of the oldest venture funds that is dedicated to blockchain technology. Blockchain Capital recently announced that it raised $150 million to invest in equity and cryptocurrency. Blockchain capital plans to invest this fund into entrepreneurial teams building businesses using blockchain technology.

Ripple says that this investment which is the first contribution to the fund will help provide an opportunity to identify new use cases for the XRP ledger and Interledger protocol.While Ripple’s primary focus has been to remove friction from cross-border payments, the investment Blockchain Capital’s fund provides an opportunity to support and develop additional use cases beyond payments.

Bart Stephens, co-founder of Blockchain Capital says:

As pioneers in the blockchain sector, we have been on the frontlines and in the trenches with our portfolio companies, like Ripple, building a new crypto ecosystem, There are entire verticals — such as healthcare or identity management — that could benefit from blockchain or distributed ledger technology.

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.

Peter Griffin, SVP of strategic growth at Ripple said:

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.

Ripple Tweeted:

 

 

Source: Ripple


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Shrikar Parashar

Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.

Share
Published by
Shrikar Parashar

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago