Ripple Invests $25M USD In XRP In Blockchain Capital's Parallel Fund IV


Ripple Invests $25M USD In XRP In Blockchain Capital's Parallel Fund IV

Blockchain Capital's acceptance of XRP makes the venture firm one of the first to accept capital calls in digital assets.

San Francisco based Blockchain technology payment system Ripple has invested $25 million of its cryptocurrency XRP into Blockchain capital Parallel IV LP Venture Fund.

After investments in a total of 23 bitcoin and blockchain firms in 2015, Blockchain Capital announced its second venture round raising $13 million in early 2016, as reported by CCN at the time.

The $150 million fund will invest in startups and entrepreneurial teams utilizing blockchain technology for industry verticals and use cases.

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.

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. Ripple's own investment will also be used to "provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol", Ripple stated today in a blog post.

Blockchain Capital, a venture capital firm dedicated to blockchain technology, designated Ripple's investment to its own special objective vehicle called the Blockchain Capital Parallel IV, which accepts cryptocurrency investments only. Blockchain Capital is looking to employ the XRP in the fields of healthcare or identity management and believes they can benefit from distributed ledger technology. However, it will not be the last because we are going to support other funds too.

In a press statement, Ripple confirmed their participation in the fund saying that the contribution which was their first would certainly no be their last. "We plan to be major players in shaping the future generation of blockchain or crypto companies", continued Griffen.

Ripple is also rumored to be partnering with Santander banking group to start an worldwide money transfer app which will be based on Ripple's xCurrent and the RippleNet platform.