Ripple drops wedge of XRP into Blockchain Capital venture scheme

Alonzo Simpson
April 13, 2018

In the case of Coinbase, Ripple said it was willing to pay $100 million worth of XRP to start letting users trade the asset.

In an official announcement, Ripple declared they'd invested $25 million worth of XRP in the fledgling Blockchain Capital Parallel Fund IV. Moreover, this is the first fund to accept capital calls in cryptocurrencies.

Ripple's $25 million investment was bested in recent weeks by its own $29 million donation to educational non-profit DonorsChoose, a move that singularly funded all 35,000 classroom projects listed on the crowdfunding platform. Blockchain Capital is the first fund dedicated exclusively to the blockchain space and is also the first to accept capital calls in digital assets. The investment firm is expected to invest in entrepreneurial teams that are blockchain-focused. XRP's growth may be related to Ripple's investment in the Blockchain Capital fund - but it may also be a part of the slow tidal wave growth the overall crypto market is experiencing today (as of right now, all coins in the top ten cryptos are up).

With its largest fundraising round to date, Blockchain Capital now manages $250 million in assets with companies including the likes of Coinbase, Kraken, Circle, and notably Ripple, under its investment portfolio.

Bart made known that it saw opportunities for distributed ledger technology in healthcare and identity management.

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"Blockchain Capital is the premiere fund for any project looking to get off the ground in the blockchain space".

Patrick Griffin, a vice president with the XRP team, noted that this "is the first fund that we've contributed to, and it won't be the last". The latter is limited to accepting contributions only in cryptocurrencies. The company has announced partnerships with numerous major money transfer companies in the USA, including MoneyGram and Western Union.

The reason behind this investment, according to Ripple is that the firm believes in supporting the XRP Ledger and Interledger Protocol, at the same time, the cryptocurrency firm is ready to continue to seek opportunities and support entrepreneurs, companies and funds that share this vision.

Johnson has compared the future of Blockchain technology to what was built off of the iPhone's software, which has become the base for some of the most successful startups in the world.

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