Apart from Bitcoin, Ripple is the third most popular cryptocurrency in terms of both popularity and market capitalization. As on 12 April, Ripple holds a market cap of $21 Billion. And its price stands at $0.562482. The company itself owns 60 billion coins from the available 100 billion ripple tokens. Reportedly on this Wednesday, Ripple invested $25 million worth XRP token into Blockchain Capital Parallel IV venture fund as early stage investments. It’s the oldest crypto fund that accepts funds only in cryptocurrency.
Blockchain capital raised $125 million on their own. And The total $150 million worth fund is managed by Blockchain Capital and it’s to be used entirely on the development of the blockchain space. As per the company Ripple, this invested fund will provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol. It makes clear that Ripple is looking to a partnership with multiple companies and organizations globally.
Patrick Griffin, SVP of Strategic Growth at Ripple said, “Blockchain Capital is the premier 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.” He further added, “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.”
Earlier this, Ripple contributed $20 million to fund public schools as charity. The recent fund will support entrepreneurs and companies that are looking to use cases of the technology.
Bart Stephens, co-founder and managing partner of Blockchain Capital stated, “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.”
Bart also said, “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.”