Ripple is one projects that the entire market looks forward to hearing from. It has been in the news recently for donations that it made, new investments and partnerships in hand.
The latest tweet from them read:
“Ripple’s $25 million investment in Blockchaincap’s new fund is the first and not the last contribution to ventures that further develop the Blockchain and XRP ecosystems.”
Fund Utilization and XRP’s role:
The Ripple project has invested over $25 million to empower innovation in Blockchain and cryptocurrency assets, according to the latest news.
The official website stated, 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.
Blockchain Capital will invest in start-ups that are building businesses by integrating blockchain technology and a total of $150 million worth fund will go right here. The investment will provide an opportunity to explore new use cases for Ripple’s Interledger Protocol and the XRP ledger. Both of these being open source platforms, provide an avenue for developers to directly work on the technology to develop it further.
Ripple’s primary focus from a long time is very popular by now, which is to eliminate friction from payments across the borders and new investment venture providing an opportunity to stand by and build upon practical uses beyond just payments.
Bart Stephens, Blockchain capital’s Co-Founder, and Managing Partner quoted:
“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.”
Ripple [XRP] is priced at $0.48 as seen at price time with some noticeable gains. The market capital has also increased considerably since and is currently worth $19 billion placing XRP in the top 3 as solid as ever.
As the ecosystem around blockchain continues to expand and develop, Ripple is looking to support new use cases of the technology including more investments in business use cases developed by entrepreneurial teams and funds. As the official website claims, Ripple believes in supporting the XRP Ledger and Interledger Protocol and will continue to look for opportunities to support entrepreneurs, companies, and funds that share this vision.
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