The Ripple company has announced that they are investing 25 million dollars in XRP to Blockchain Capital Parallel IV, LP, to help focus on the development of the blockchain space. For those unfamiliar with the company, Ripple is a centralized real-time gross settlement system (RTGS), currency exchange and remittance network.
This investment is going to the $150 million fund managed by Blockchain Capital. Founded in 2013, Blockchain Capital is one of the earliest and currently most active venture investors in the blockchain technology sector. Since their inception, they claim to have financed 72 companies, protocols and tokens.
According to Ripple this new $25 million investment will also help provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol.
“Blockchain Capital is the premiere fund for any project looking to get off the ground in the blockchain space. They have a proven track record for finding and funding the projects that matter. 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.”