Published: Fri, April 13, 2018
Technology | By Christopher Mann

Ripple Invests $25 Million to Drive Innovation in Blockchain and Digital Assets

Ripple Invests $25 Million to Drive Innovation in Blockchain and Digital Assets

Patrick Griffin, SVP of Strategic Growth at Ripple, said the company will continue contributing to other venture capital funds to support and fuel startups and businesses developing blockchain applications.

Blockchain Capital now manages a portfolio worth $250 which in blockchain businesses including Coinbase, Kraken, Circle, and Ripple.

The investment should provide a window into the ways the company's blockchain as well as its digital token XRP could be utilized outside of payments, according to Ripple's blog.

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Described by Ripple as the "first fund to accept capital calls in digital assets", the parallel investment vehicle now joins the Blockchain Capital IV LP fund - raising $125 million on its own - in bringing the total to $150 million in the San Francisco-based venture capital firm's fourth fundraising round.

Bitcoin and Ethereum, the major world's cryptocurrencies, are now not categorized as securities, but Ripple has recently become a subject of discussions with a lot of doubts whether this token may be possibly considered to be a security. This is the first fund that we've contributed to, and it won't be the last.

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

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"As pioneers in the blockchain sector, we have been on the frontlines and in the trenches with our portfolio companies, like Ripple, building a new crypto ecosystem", said Bart Stephens, co-founder and managing partner of Blockchain Capital. Blockchain Capital wants to use XRP in different fields like healthcare which they can believe can benefit largely from the distributed ledger technology. XRP the cryptocurrency developed by Ripple is used by traders as a popular crypto asset for trading. The Fund which supports entrepreneurial ventures in the blockchain space, Ripple says will also provide an opportunity to identify new use cases for its XRP Ledger and Interledger Protocol. "We plan to be major players in shaping the future generation of blockchain or crypto companies", continued Griffen.

Ripple's chief market strategist, Cory Johnson, told CNBC, "We absolutely are not a security". Johnson hopes that the next Uber, Salesforce, or Instagram will be built using XRP.

Should Ripple be investing in its competitor's projects?

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