Ripple (XRP), the cross-border transaction platform based on the blockchain technology, plans to invest $25 million for startups in the blockchain worlds, as well as for digital startups.
Paid in Ripple (XRP), the investment of $25 million will be handled by the Blockchain Capital Parallel IV, which is the first to admit capital requests in digital assets with the focus on the blockchain universe development.
As the Ripple representatives declared, Blockchain Capital manages more than $150 million in funds.
The $25 million fund is awaited to go for the business teams which are focusing on digital assets but especially on blockchain technology development.
Even more, according to Ripple, this sum is expected to give the possibility to distinguish novel applications for the Ripple’s Interledger Protocol and the Ripple XRP Ledger.
Ripple company trust the abilities of Blockchain Capital firm
According to the Blockchain Capital’s co-founder, Bart Stephens, the company is a “roads-builder” for the blockchain universe and has always been actively participated in this field numbering renowned names in its collection, such as Ripple that’s working on a new blockchain ecosystem.
“Whether it’s using Ripple (XRP), Bitcoin (BTC) 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,” explained Bart Stephens.
In the meantime, discussing the deal with Blockchain Capital, Patrick Griffin, Ripple’s Strategic Growth VP, emphasized that “Blockchain Capital is the first 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.”
According to Ripple (XRP), the purpose of the $25 million investment, is that Blockchain Capital trusts the utility of Interledger Protocol and XRP Ledger, while, Ripple company is set to extend its partnerships, as well as its support, to new businesses, companies, and institutions.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.