Ripple Announces $25 Million in XRP Investment in Blockchain Capital Fund

by Erika Turner | April 13, 2018 | 16:33
Ripple Announces $25 Million in XRP Investment in Blockchain Capital Fund

XRP's growth may be related to Ripple's investment in the Blockchain Capital fund - but it may also be a part of the slow tidal wave growth the overall crypto market is experiencing today (as of right now, all coins in the top ten cryptos are up). Blockchain Capital is the first fund dedicated exclusively to the blockchain space and is also the first to accept capital calls in digital assets.

Ripple, which owns about 60 billion of the 100 billion ripple, or XRP, tokens created, said Wednesday that it would invest US$25 million into the fund, created by Blockchain Capital, a venture capital firm dedicated to blockchain tech. The vast majority of XRP is still owned by the company, and Ripple fully intends to invest more of its seemingly limitless supply of cryptocurrency into other funds.

"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. The Fund which supports entrepreneurial ventures in the blockchain space, Ripple says will also provide an opportunity to identify new use cases for its XRP Ledger and Interledger Protocol.

Ripple added that it believes in supporting the XRP Ledger and Interledger Protocol.

More news: CWG 2018: Bajrang Punia leads medal haul on day 2 of wrestling

Blockchain Capital, a venture capital firm dedicated to blockchain technology, designated Ripple's investment to its own special goal vehicle called the Blockchain Capital Parallel IV, which accepts cryptocurrency investments only. Griffin stated that: "is is the first fund we have contribute".

And even more fascinating is that Ripple is not making this fund investment in USA dollars but in the XRP currency itself. They have a proven track record for finding and funding the projects that matter. "Whether we are using Bitcoin, XRP or any other Blockchain technology our aim is to find good projects and support them to become successful companies that will deliver value to different customers in the future". "We plan to be major players in shaping the future generation of blockchain or crypto companies". Additionally, he also believes that Ripple is capable of improving legacy of banking systems and help streamline global money transfers.

Ripple has struck several partnerships deals with banks and financial institutions.

Related Articles

  • Prince Harry and Meghan Markle reveal HUGE wedding guest list details

    Prince Harry and Meghan Markle reveal HUGE wedding guest list details

    Her first husband reportedly went from "cherishing Meghan" to feeling "like he was a piece of something stuck to her shoe". She moreover claimed that she and Markle are 15th cousins with Harry. "She was very careful about Brand Meghan".
    High Definition Vinyl Is About To Change The Game For DJs

    High Definition Vinyl Is About To Change The Game For DJs

    This new style of vinyl record will still play on normal record players and will have 30 percent more playing time. Rebeat has ordered its first £420,000 laser and is set to begin test pressings in September.
    Lynx Draft Former Gophers Star Carlie Wagner

    Lynx Draft Former Gophers Star Carlie Wagner

    Wagner finished her career as the third all-time leading scorer in Minnesota women's basketball history with 2,215 points. According to the university, her deal to become head coach allows her to continue to play for the Minnesota Lynx.
  • China 'wont hesitate' to fight back if America escalates trade dispute

    China 'wont hesitate' to fight back if America escalates trade dispute

    But he warned that China can't simply reiterate past commitments on issues of concern to the USA that it never followed through. But as of this week, at least, the sky hasn't fallen on the global economy.
    President Trump weighing drug testing for food stamps

    President Trump weighing drug testing for food stamps

    Coastal Bend residents had mixed opinions about the proposal to require food stamp applicants to take a drug test. Emails obtained by the AP, however, "suggest that a plan could be forthcoming", the news outlet noted.
    Trump Produces Taskforce to Mend US Postal Service

    Trump Produces Taskforce to Mend US Postal Service

    Amazon should pay these costs (plus) and not have them bourne by the American Taxpayer. A page on the USPS website listing "The Top 10 Things You Should Know About the U.S.
  • Winter storm watch posted as weekend snowstorm threatens

    Winter storm watch posted as weekend snowstorm threatens

    As colder air slides in, freezing rain and/or sleet will become more likely across northern Lower Michigan Friday night. This impending winter storm is concerning for cattle ranchers right in the middle of the spring calving season.
    Woman arrested in death of deaf sister in California

    Woman arrested in death of deaf sister in California

    Baltimore Police took Jill Blackstone into custody on suspicion of murder and animal cruelty at Johns Hopkins Hospital. Jill was initially charged with Wendy's murder, but the case was dropped by Los Angeles District Attorney.
    Israel 'shocked' over Dublin mayor visit

    Israel 'shocked' over Dublin mayor visit

    The ministry expressed "deep disappointment and shock" at Micheál Mac Donncha's attendance at the event. Palestinian Authority President Mahmoud Abbas speaks at a Conference in Ramallah.
  • Clayton woman adopts son after meeting his birth mother on flight

    Clayton woman adopts son after meeting his birth mother on flight

    However, when Sophie sent a follow up text letting Abbie know she'd made a mistake, the pregnant woman refused to believe her. In May 2016, she had a day of heavy vaginal discharge, together with mild back pain and, in July, she chose to see her GP.
    Tennis teams 4th at region

    Tennis teams 4th at region

    The EWU track and field team fought through heavy rain to compete in the War XI at Spokane Falls Community College last weekend. Astorgay has posted a time of 12:53.40, and is clear by 16 seconds over Butte County's Natayla Babcock.
    Severe weather possible Saturday

    Severe weather possible Saturday

    Friday we will be looking at temperatures in the 80's, and then Saturday temperatures will be sitting in the mid to upper 60's. For tonight , winds will stay a bit elevated out of the south-southeast around 7-14MPH and a few more clouds will move in.