Published On: Thu, Apr 12th, 2018

Ripple Invests $25 Million XRP into Blockchain Capital Venture Fund

Share This

Ripple continues to throw its own in-house cryptocurrency around like it has an unlimited supply — which isn’t too far from the truth.
Pocket Change
The fintech startup — known for its a real-time gross settlement system, currency exchange, and remittance network — has invested $25 million of its own digital currency (XRP) into “a dedicated sidecar vehicle alongside Blockchain Capital’s fourth venture fund,” as reported by Fortune.
Ripple’s investment follows last month’s announcement that Blockchain Capital — the longest-standing blockchain-focused venture capital firm — had already “raised $150 million to invest in equity and cryptocurrency assets.”

The XRP investment, however, marks one of the first times a major venture firm has accepted cryptocurrency as capital. Ripple’s in-house tokens were placed into the specifically-created cryptocurrency-only vehicle called Blockchain Capital Parallel IV. A spokesperson told Fortune:
We created the parallel fund to separate our other LPs from the risk of any change in valuation associated with accepting Ripple’s investment in XRP.
Blockchain Capital is already a major investor in Ripple and is now looking to strategically pour its new stockpile of XRP tokens into healthcare and identity …

Read more –> click here all content is copyright Bitcoinist.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

Powered by ABITCO.IN

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Most Popular Posts

ALL Bitcoin News

Like what you’re reading?

Never miss any breaking Bitcoin news by following us on Facebook and Twitter!