Ripple Former Associates to Invest in Hedge Fund

The former employees of Ripple reportedly filed to SEC aiming to raise money for a cryptocurrency hedge fund Fractal Investments
30 January 2018   244

Tim Lewkow, the integration engineering manager, and Eli Lang, the creative director, who were previously working for Ripple, are seeking funds to invest into Fractal Investments, a crypto-asset fund, accoring to filings to the U.S. Securities and Exchange Commission (SEC) from 25 and 26 of January, 2018.

The filings are concerned with two branches, Fractal: Virtual Currency Investment Fund I LP and Fractal: Private Investment Fund LP, both of which are incorporated in Delaware, but there is no information regarding the amount of money which is planned to be raised and invested.

Fractal company invests into cryptographic digital assets, and, as it is stated on the official website of the company, its vision is that new blockchain assets are being developed to address new use cases and niches, and these assets have enormous utility to drive economic growth and modernization of financial systems. 

At the moment of press, these are main market parameters of Ripple:

Average price: $1,24
Marketcap: $48 197 691 920 
24h volume: $815 491 000

Ripple to Work with Saudi Arabia’s Central Bank

Saudi Central Bank provides sandbox for banks to try out Ripple technology  
14 February 2018   120

Together with the Saudi Arabian Monetary Authority (SAMA), Ripple is going to create a pilot programme to enable local banks to deploy xCurrent for cross-border payments.

This pilot programme will provide interested Saudi banks with program management and training. it is the first of its kind to be launched by a central bank.

According to Dilip Rao, global head of infrastructure innovation at Ripple, central banks all over the world are interested in blockchain technology in order to understand how it can transform cross-border payments. It will result in lower barriers for both corporations and consumers.

SAMA will provide resources to domestic banks that want to enable instant payments using Ripple’s innovative blockchain solution. It has the potential to revolutionise cross-border payments, making it cheaper and more transparent. SAMA will be the second central bank to use blockchain technology to revolutionize payments.