Ripple to Invest $25M in Blockchain Capital Fund

Funds, received from Ripple, will be sent to a separate target mechanism for teams of entrepreneurs who use blockchain technology in their products
12 April 2018   1030

The supplier of financial and payment solutions Ripple invested $ 25 million in the new crypto-currency fund of the Californian company Blockchain Capital. This is stated in the official blog of the company.

The investments were directed to Blockchain Capital Parallel IV - the fund, created in 2017 for financing promising bitcoins and blockchain startups.

In March, Blockchain Capital Parallel IV announced the receiving $ 150 million for the cryptocurrency industry innvestments from a number of institutional investors and family trust management companies. Funds, received from Ripple, will be sent to a separate target mechanism for teams of entrepreneurs who use blockchain technology in their products. Also, these investments will help to identify new cases for the Interledger protocol and XRP tokens, Ripple representatives say.

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. There are entire verticals — such as healthcare or identity management — that could benefit from blockchain or distributed ledger technology. Whether it’s using XRP, bitcoin or just the underlying blockchain technology, our goal is to find the best projects and give them the resources to be successful companies that deliver value to customers for the long term.
 

Bart Stephens

Co-founder and managing partner, Blockchain Capital

As noted by Ripple senior vice president for strategic growth Patrick Griffin, this is the company's first investment in such a fund, but they will not be the last.

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.
 

Patrick Griffin

SVP of Strategic Growth, Ripple

In April 2017, the Blockchain Capital venture fund completed the ICO ahead of schedule, collecting the planned $ 10 million approximately two hours after the start of the crowdsdale. The first project that entered the company's investment portfolio was the developer of the client of the Ethereum network Parity Technologies.

R3’s New App to Support XRP Payments

Corda Settler is a opensource application in the CorDapp pack and makes it possible to make payments for payment obligations in the Corda networ
06 December 2018   114

Banking blockchain consortium R3 has announced the launch of the Corda Settler application for international cryptocurrency payments in corporate distributed networks. The first supported digital asset in the application is the XRP token, CoinDesk reports.

The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together. While the Settler will be open to all forms of crypto and traditional assets, this demonstration with XRP is the next logical step in showing how widespread acceptance and use of digital assets to transfer value and make payments can be achieved.
 

Richard Gendal Brown

CTO, R3

Corda Settler is a opensource application in the CorDapp pack and makes it possible to make payments for payment obligations in the Corda network through any parallel means supporting cryptocurrency, crypto assets or traditional payment mechanisms that can provide cryptographic confirmation of the fact of settlement of transactions.

In particular, the application verifies the transfer of the expected amount to the recipient’s account, automatically updating the Corda registry. Also in the developers' plans is the addition of support for deferred netting of transactions and settlements on pre-established amounts in real time.

When a payment obligation arises in the Corda system, one of the parties may request payment in XRP tokens. The other party will receive a notification of such a request and that it must configure the payment to be sent to the specified address before a certain date. As soon as the oracle service confirms the payment, the parties may consider the obligation fulfilled.

Application support for the XRP token may seem somewhat unexpected if we recall the recent court proceedings between R3 and Ripple, but a source close to the situation claims that the disagreements did not have anything to do with it. The very launch of a new payment mechanism, he said, should give greater legitimacy to cryptocurrencies.