The cryptocurrency market has got some amazing news which would make a huge impact on the investors of cryptocurrencies. Recent sources reveal that, the digital payment network from San Francisco called the Ripple, which is considered quite famous among the variety of investors in the cryptocurrency market, has recently invested 25 million dollars in the Blockchain Capital Parallel IV LP venture Fund on April 11.
The total fund managed by Blockchain Capital amounts to 150 million dollars. The history of this venture capital firm dates back to long and is considered one of the oldest venture firm that uses the Blockchain Technology and digital currency ecosystem. Also, it is highly regarded to accept the capital calls from people in cryptocurrencies. Investing a huge amount in such a company is one big decision and this investment is sure to open up opportunities that would examine the new use cases for the Interledger protocol and XRP Ledger. Not only this, it is also bound to support the startups and primarily concentrate on the development of Blockchain space.
It is a well known fact that both the Interledger Protocol and XRP ledger are major open source platforms; the former being an advanced blockchain-like system perpetually gives permission for the users to make variety of transactions with different currencies on an international basis. The other one is also an open protocol across various payment networks for making the payments. However, the blockchain capital company is mainly focusing and planning to invest the XRP invested by Ripple, in the fields like identity management or healthcare, with a belief that they can benefit from distributed ledger technology.
The co founder and the managing partner of Blockchain capital said, “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.” He further added, “There are entire verticals = such as healthcare or identity management – that could benefit from Blockchain or distributed ledger technology.”
He also said that when it comes to using XRP, Bitcoin or even the basic aspects of Blockchain technology, their goal is to determine and support the companies which give out best value to the customers on a long term basis, by giving the resources for their functioning.
On the other side, the Senior Vice President of the strategic growth at Ripple, revealed that the company will continue to fund and make contributions to other funds and thus, achieving their vision which is to become the key players in the industry.
He said, “This is the first fund that we’ve contributed to, and it won’t be the last. We plan to be major players in shaping the future generation of blockchain or crypto companies.”
In the beginning of the year, Ripple disclosed that it would have a partnership agreement with Money gram, a payment service, to have fast fiat settlements. Also, for launching a money transfer app globally, the company Ripple is said to partner with the major banking group called Santander. This app is said to be based on the RippleNet platforms and Ripple’s Blockchain xCurrent.