Ripple invested $25 million in the XRP cryptocurrency into the Blockchain Capital Parallel IV fund. About this the startup reported in his blog.
The total capital of Parallel IV is $150 million. The manager of the Blockchain Capital Foundation intends to invest these funds in teams engaged in building business based on blockchain technology.
“The investment will also provide an opportunity to discover new areas of application of the XRP registry and the Interledger protocol,” Ripple said in a statement.
“As the pioneers of the blockchain sector, we are at the forefront together with our portfolio companies, such as Ripple, with whom we are creating a new cryptocurrency ecosystem,” said Bart Stephens, co-founder and managing partner of Blockchain Capital. “There are entire verticals, such as health care and identity management, that can sense the benefits of blockchain or distributed registry technology.”
Ripple claims that it will support both proprietary developments, such as the XRP registry and the Interledger protocol, as well as entrepreneurs, companies and foundations that share the point of view of the startup.
“Blockchain Capital is the main fund for any project that wants to rise in the realm of blockchain. They proved that they can find and support projects that deserve attention,” said Patrick Griffin, senior vice president for strategic development at Ripple. “This is the first, but not the last, fund in which we invest. We intend to become a major player in shaping the future generation of blockchain companies and crypto companies. “