Ripple Invests $25 Million in XRP for Blockchain Development Fund

Ripple Invests $25 Million in XRP for Blockchain Development Fund

Ripple Inc. has made an investment valued at $25 million to Blockchain Capital Parallel IV, LP the first ever fund dedicated to blockchain development.

Founded in 2013, Blockchain Capital is one of the earliest and most active investors in the blockchain industry and the crypto ecosystem. 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.

In its official announcement, Ripple underlined that their "investment will also provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol".

"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". Blockchain Capital is the first fund dedicated exclusively to the blockchain space and is also the first to accept capital calls in digital assets.

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

Royal Wedding: Meghan Markle's sister furious about not getting an invite
Based on interviews with Meghan's family, friends, teachers and colleagues, Morton's book claims to reveal the true story of her rise to royalty.

Jane 'Buckskin Girl' Doe identified after 37 years
Chief Deputy Steve Lord said King's mother has long hoped her daughter's murder would be solved. An autopsy found that the young woman was killed by strangulation and blunt force trauma.

Exceeding recommended alcohol limits cuts years off your life
The study's recommendations are significantly less than what many countries recommend as an alcohol consumption limit. The researchers found that the more alcohol a person consumed, the higher their risk of stroke and heart failure .

The XRP Ledger is an advanced blockchain-like system which allows users to make transactions in different currencies globally, while the Interledger Protocol is an open protocol for payments across payment networks.

Stephens said the fund will bankroll startups that use Ripple's own XRP cryptocurrency, bitcoin, or just the underlying technology as part of an effort to promote blockchain over the long-term.

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.

"This is the first fund that we've contributed to, and it won't be the last", Patrick Griffin, senior vice-president of strategic growth at Ripple, said in a statement Wednesday. "Our main aim is to become major layers in shaping the future of Blockchain and even other Blockchain companies". Additionally, he also believes that Ripple is capable of improving legacy of banking systems and help streamline global money transfers.

Related News:

  • Ex-Gopher Whalen new Minnesota women's basketball coach

    Ex-Gopher Whalen new Minnesota women's basketball coach

    She was a three-time All-Big Ten selection who led the Gophers to their only Final Four berth in 2004. "I'm ready to get started". Whalen may end up helping the Lynx to another title as well, considering she isn't going to stop playing either.
    Russian TV crew slammed for sneaking into Skripal hospital

    Russian TV crew slammed for sneaking into Skripal hospital

    Britain has said the use of such an obscure poison indicates Moscow was either to blame or had lost control over its nerve agents. Russian Federation denies involvement in the pair's poisoning, which triggered a diplomatic crisis between Moscow and the West.
    'Jessica Jones' Season 3 Renewed: Here's What to Expect

    'Jessica Jones' Season 3 Renewed: Here's What to Expect

    The second season makes headway on the origin story of Jessica Jones , which was teased in Season 1 but never fully explored. Jessica Jones will officially return for a third season on Netflix after the Marvel series was renewed on Thursday...
  • Man arrested for duping women on pretext of marriage

    Man arrested for duping women on pretext of marriage

    I remember calling my friend who used Hypnobabies a badass, and after that incredible early morning in July, I feel like one too. The case of mistaken identity then lead to a freaky texting exchange between the two women , which became increasingly heated.
    Teen killed in minivan was trapped under third-row seat, official says

    Teen killed in minivan was trapped under third-row seat, official says

    Hamilton County Sheriff Jim Neil has ordered an administrative investigation to make sure department protocols were followed. Mercy Montessori, where Kyle went for early education, released a statement saying, "Our Mercy hearts are heavy".
    Salisbury attack: Chemical weapons watchdog confirms United Kingdom  findings on nerve agent

    Salisbury attack: Chemical weapons watchdog confirms United Kingdom findings on nerve agent

    Britain has said the use of such an obscure poison indicates Moscow was either to blame or had lost control over its nerve agents. Russian Federation has denied involvement in the attack and contends Britain has not provided evidence to support its allegation.
  • I-69 corridor added to Winter Storm Watch

    I-69 corridor added to Winter Storm Watch

    Persistent northeast winds of 20 - 35MPH with higher gusts are expected Friday afternoon into Sunday afternoon. It looks like 2-4 inches of snow and sleet with freezing rain and ice also a major concern.
    Wale Writes Touching Post After Speaking With Meek Mill

    Wale Writes Touching Post After Speaking With Meek Mill

    He is now serving up to four years due to probation violations, dating back to an drugs and weapons charge in 2007. Afterward, Kraft called for reform of the criminal justice system.
    Unnao rape case: CBI detains accused BJP legislator

    Unnao rape case: CBI detains accused BJP legislator

    Two complaints were filed in the aftermath, one against the teenager's family and the other against the suspected assailants. Sengar was detained from a house in Lucknow's Indira Nagar and taken to the CBI's office in Hazratganj at around 4am.
  • Researchers say some Android phone makers hide missed updates

    Researchers say some Android phone makers hide missed updates

    As I mentioned in the first step, the SnoopSnitch app isn't fully working on devices running Android 8.1 like the Pixel 2. Compared to flagships, cheaper phones are found to be skipping more patches, which also tend to use cheaper chips.
    Sridevi wins first National Award, posthumously

    Sridevi wins first National Award, posthumously

    The film was also recognised for original screenplay, while the best dialogues went to Odiya film " Hello Arsi ". Announcing Sridevi's name, feature film jury head Shekhar Kapur said the actor was the most deserving candidate.
    Thursday's Wake-Up Weather: Hot and windy today!

    Thursday's Wake-Up Weather: Hot and windy today!

    Friday night after sunset rain will begin to change to snow from west to east as the cold side of this storm system moves in. Southwest winds will stay a little breezy, but a big push of warm air will ride up the East Coast with that southwest breeze.


Most liked

Stocks bounce as China blinks on trade
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 5, 2018. The Dow Jones industrial average fell 572 points Friday, and lost 0.7% of its value last week.

Eintracht Frankfurt coach Niko Kovac set to join Bayern Munich
Niko Kovac will take over from Jupp Heynckes as the coach of Bayern Munich this summer, according to a report in Germany . With Thomas Tuchel rejecting Bayer, it appears that Bayern are struggling to negotiate with Julian Nagelsmann , too.

Pakistan court bans ex-PM Sharif from elections for life
According to television news channels, the verdict was issued unanimously by all five judges of the bench. Following the verdict, both Sharif and Tareen have become ineligible to ever hold public office.

Black flags, 'Go back Modi' chants greet PM Modi at Chennai
Members of the Thamizhaga Vazhvurimai Katchi (TVK) were detained as they tried to enter the airport and climbed on hoardings. Urging the government to act fast, Hassan requested the government to take cognisance of the protests held in the state.

The Blockchain - powered InsurePal (IPL) went up $0.00114 on April 11-12
Ethereum (CURRENCY: ETH ) traded up 20.6% against the US dollar during the 24 hour period ending at 6:00 AM E.T. on March 29th. BitcoinCash has an issue with slow block times, ERC20 tokens don't have this issue and also have smart contract capability.

Israel probing how pro-boycott Irish mayor came despite ban
Dublin City Council passed two resolutions endorsing the BDS movement on Monday. Israel had tried to block his entry through its airport.

Shooter Shreyasi Singh Finishes Fifth in Women's Trap Shooting
Kyle Chalmers (AUS, swimming) - Four gold ( men's 200m freestyle, 4x100m freestyle, 4x100m medley, 4x200m freestyle), one silver. The 19-year-old young pugilist was defeated by Jason Whateley of Australia in Men's 91kg Semifinal 1 match at Oxenford Studios.

Amazon drops the price of the popular Ring Video Doorbell to $99.99
Shipment deals might increase as this deal is pretty tempting and Amazon will move a lot of these video doorbells today. In terms of integrations, all of Ring's doorbells work with Alexa, Google Assistant, IFTTT, and Wink.

'Broad City' renewed for fifth and final season
Until then lets all drown our sorrows by remembering the greatest gift/curse that this pearl of a show gave us. The hit Comedy Central show will end after its fifth season, the network announced Thursday.

Three Bollywood actresses among most admired women in the world
Bollywood actors such as Aishwarya Rai-Bachchan, Priyanka Chopra and Deepika Padukone were among those featured. Former President Barack Obama is more admired than President Trump in every country except Russian Federation .

Boston Bruins: Slight changes to the lines for game one
You think you're a special team? Flip a coin for game one because this series is going seven games where no 4-1 lead will be safe. At the time of the sweep, Boston was a struggling team having lost six of eight games after the back-to-back against the Leafs.

Trump threatens missiles: 'Get ready Russia'
There were signs, though, of a global effort to head off a unsafe conflict pitting Russian Federation against the West. What has Trump said about the attack? A US guided-missile destroyer, the USS Donald Cook , is in the Mediterranean.

Reliance Jio in talks with Qualcomm to launch laptops with cellular connectivity
The move to launch self-branded laptops is said to be targeted at increasing its average revenue per user (ARPU). Last year, Reliance Jio had clocked $4.70 (INR 300) ARPU , much higher than all its competitors in India.

Games-Highlights on day nine of Commonwealth Games
Home Affairs Minster Peter Dutton said that all missing athletes and officials will be shown scant sympathy when caught. Athletes must have a specific medical exemption to have needles at the Games as part of the fight against doping.

Breaking down the Bears' decision to let Cameron Meredith walk — PODCAST
Instead, GM Ryan Pace let Meredith walk, apparently believing he can't come back from a brutal knee injury sustained last summer. Why the Bears wouldn't match, considering their ample cap space and need at the position, is mind-boggling.