Published: Fri, April 13, 2018
Hi-Tech | By Grace Becker

Ripple has invested $25 million XRP in Blockchain Venture Fund

Ripple has invested $25 million XRP in Blockchain Venture Fund

Enterprise blockchain provider Ripple has made a $25 million investment in blockchain startup, Blockchain Capital, the company announced today.

"The investment will also provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol", Ripple's announcement added, pointing to applications of both open-source platforms in areas beyond payments.

Fintech startup Ripple divulged an investment of $25 million Dollars worth of its own currency XRP in Blockchain Capital - a venture firm that specializes in blockchain and crypto projects.

Case in point: Venrock, the venture-capital arm of the Rockefeller family (estimated net worth: $1 trillion) has teamed up with the crypto investor group, CoinFund, to help entrepreneurs launch blockchain-based businesses.

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"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. "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".

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. They have a proven track record for finding and funding the projects that matter. The company has announced partnerships with numerous major money transfer companies in the USA, including MoneyGram and Western Union. All of the other major digital currency players - including Ethereum (ETH), Ripple (XRP), and Bitcoin Cash (BCH) have also seen jumps of between 5 and 9% of the last day.

Last month, Ripple partnered with Banking group Santander to release an worldwide money transfer app using Ripple's blockchain xCurrent and RippleNet platforms.

In the payments sector, it is already in partnerships with MoneyGram, Western Union, as well as American Express and Santander - which will use it as the tech behind its All-in-One Payment app, which is due to go live imminently.

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