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   1414

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.

Swedish Nordic Growth Market to Launch Crypto ETP

Now investors from the EU, which can trade on the Nordic Growth Market, Swedish unit of Boerse Stuttgart can work with LTC and XRP ETP
04 April 2019   289

Trading platform Nordic Growth Market, which is the Swedish division of the second largest German stock exchange Börse Stuttgart Group, began trading ETP based on digital currencies Ripple and Litecoin. Four ETPs (two for XRP and LTC each) are issued by XBT Provider.

This is an important moment for traditional investors and the crypto community alike as LTC and XRP now, effectively, have an ISIN number. This was not an easy feat and a lot of credit is due to our MD of XBT Provider, Laurent Kssis and his counterparts at NGM for their expertise in navigating the complexities of the traditional system and bringing these new digital asset products to market for investors.

Ryan Radloff

CEO, CoinShares, parent to XBT Provider

Now investors from the EU, which can trade on the Nordic Growth Market, can use their brokerage (Avanza, Nordnet), trading or even preferential accounts (ISK in Sweden or SIPP in the UK) to passively work with these digital assets.

Note that in 2015, XBT Provider launched the first bitcoin-based security on the Nasdaq Stockholm Stock Exchange. The asset was named Bitcoin Tracker One (BTO).

At the end of 2017, support for the first Ethereum index bonds (ETN) was added to Nasdaq Stockholm.

In the summer of 2018, XBT Provider made a listing of Bitcoin-ETN, the value of which is displayed in US dollars, since the price of the BTO was previously quoted only in euroa and Swedish krona.

At the end of January 2019, Börse Stuttgart launched its own application for trading cryptocurrency called Bison. Bidding through the application is available seven days a week from 06:00 to 24:00 local time.

It is important to emphasize that stock products based on cryptocurrency are traded not only in Sweden. The largest Swiss stock exchange, SIX Exchange, already has Bitcoin, Ethereum and Ripple based ETPs. The product developer is Amun AG.