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Cryptocurrencies

Ripple offers USD 25 mln in XRP to Blockchain Capital

Thursday 12 April 2018 | 10:10 AM CET

Ripple has invested USD 25 million in XRP to Blockchain Capital’s most recent USD 150 million fund, to spur innovation in the blockchain and digital asset space.

According to the company’s official press release, Blockchain Capital is the first fund dedicated solely to the blockchain space and is also the first to accept capital calls in digital assets. The funding will be used by the startup to invest in entrepreneurial teams that are building businesses on blockchain technology. Furthermore, together with Ripple, Blockchain plans to develop inroads with entrepreneurs and companies focused on diverse use cases, including those that use the XRP Ledger and Interledger Protocol.

Founded in 2013, Blockchain Capital is one of the earliest and most active investors in the blockchain technology industry and the crypto ecosystem. Blockchain Capital has raised and deployed three prior venture funds, including an ICO in April of 2017. The company is based in San Francisco and was founded by serial entrepreneurs and Silicon Valley investors Bart Stephens and Brad Stephens.

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