San Francisco based startup Ripple, which is most well known for its cryptocurrency XRP, has recently made an investment of $25 million worth of XRP into the Blockchain Capital Parallel IV LP venture fund. This announcement was made by Ripple on the 11th of April by the payment network which uses blockchain technology as the basis for its operations.
According to the market caps of cryptocurrencies, Ripple’s XRP currently stands at third among the biggest cryptocurrencies after Bitcoin and Ethereum respectively. The Third Largest Cryptocurrency Ripple’s XRP has recently seen a lot of volatility this year and has risen in value by quite a bit in recent times.
The parent company that made the XRP tokens owns around 60,000,000,000 XRP tokens from the 100,000,000,000 XRP tokens which have been created so far has made the investment into the blockchain technology focused venture capital firm Blockchain Capital in a bid to encourage more advancements in Ripple’s applications that can result in additional uses of the company’s software. Oldest Capital Venture Firm For Blockchain Technology Blockchain Capital is the first venture capital firm which was created with the focus on blockchain technology and has enjoyed a lot of success in raising funds for investments into other LPs.
The venture capital firm managed to raise $150 million in investments last year so that it could invest the funds into cryptocurrency assets and equity. With its acceptance of Ripple’s XRP, Blockchain Capital has now become one of the first few venture firms that has started to accept capital calls in cryptocurrency tokens.
Blockchain Capital made it a point to raise the funds in XRP in a parallel side car so that the other LPs are not prone to the volatility which is very likely when it comes to digital assets like XRP. Ripple is more than just a cryptocurrency. Read more from cryptodaily.co.uk…
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