On Wednesday, California fintech Ripple announced it invested $25 million in XRP to Blockchain Capital Parallel IV, LP, a fund that accepts capital calls in digital assets and focuses entirely on the development of the blockchain space.
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. Titled Arrington XRP Capital, the fund was the first of its kind to accept investments and be valued in XRP. Not only that, the investment is expected to provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol, Ripple has said.
Blockchain Capital will focus on investing in entrepreneurial teams that are building businesses on blockchain technology.
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And even more fascinating is that Ripple is not making this fund investment in USA dollars but in the XRP currency itself.
Ripple is also rumored to be partnering with Santander banking group to start an worldwide money transfer app which will be based on Ripple's xCurrent and the RippleNet platform. Also in March, Ripple donated $29 million worth of XRP to DonorsChoose.org to help fund school supplies for students in the USA public school system. According to The New York Times, Ripple's donation will directly benefit one in six schools across the country, having a trickle-down effect that will impact the lives of millions of children-many of which live in the nation's most impoverished areas.
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Blockchain Capital is a rare breed - it has set up a $75 million fund that runs in parallel to its own fund that reportedly only takes contributions made in crypto.
As the potential use cases for blockchain and digital assets expand beyond financial services and are better understood, so does the potential for innovation.
Bart made known that it saw opportunities for distributed ledger technology in healthcare and identity management.
Even if XRP fails to materialize as a major victor from Ripple's new investment, it shows tenacity on behalf of the company to grow the brand of their cryptocurrency. "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".
The native currency of San Francisco- based company's public Ripple Consensus Ledger [RCL] is XRP token. Not only will Ripple benefit from greater recognition as a company defining the space of cryptocurrency and blockchain, but XRP investors have reason to value the currency long-term.