Ripple Invests $25 Mln In XRP In Blockchain Venture Fund
Cointelegraph
Published Apr 11, 2018 07:43PM ET
Updated Apr 11, 2018 09:02PM ET
Ripple Invests $25 Mln In XRP In Blockchain Venture Fund
Ripple, a San Francisco-based payment network utilizing Blockchain technology, invested $25 mln of its own cryptocurrency, XRP, into Blockchain Capital Parallel IV LP venture fund, according to a company announcement April 11.
The $150 mln fund is managed by Blockchain Capital, the oldest venture capital firm dedicated to Blockchain technology and the digital currency ecosystem, and the first fund to accept capital calls in cryptocurrencies. The new investment will “provide an opportunity to examine new use cases for the XRP Ledger and Interledger Protocol”, support startups, and focus on the “development of the Blockchain space”.
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Written By: Cointelegraph
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