Ripple's Chief Market Strategist Says 'XRP Is NOT a Security'

Cory Johnson

It's also the first fund to accept capital in digital currencies.

On Wednesday, California fintech Ripple announced it invested $25 million in XRP to Blockchain Capital Parallel IV, LP, a fund that accepts capital calls in digital assets and focuses entirely on the development of the blockchain space. Ripple made the investment in form of its native XRP tokens, as part of a $150 million blockchain fund managed by Blockchain Capital.

Johnson has compared the future of Blockchain technology to what was built off of the iPhone's software, which has become the base for some of the most successful startups in the world.

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The XRP Ledger is an advanced blockchain-like system which allows users to make transactions in different currencies globally, while the Interledger Protocol is an open protocol for payments across payment networks.

Bart Stephens, co-founder and managing partner of Blockchain Capital, said that as pioneers in the blockchain sector, they have been on the frontlines and in the trenches with their portfolio companies, like Ripple, building a new crypto ecosystem.

Patrick Griffin believes that through Ripple the company will continue supporting other startups as they follow their vision of becoming influential players in the industry.

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In a press statement, Ripple confirmed their participation in the fund saying that the contribution which was their first would certainly no be their last. However, it will not be the last because we are going to support other funds too.

The company, which recently airdropped a massive cache of XRP into U.S. public school coffers is hoping to stimulate interest in the creation of applications that use its currency and blockchain, which has attracted a lot of interest as a back-end technology in the banking industry, but has only been adopted by one other Coin thus far - the somewhat mysterious Allvor.

Last month, Ripple partnered with Banking group Santander to release an worldwide money transfer app using Ripple's blockchain xCurrent and RippleNet platforms.

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Ripple has struck several partnerships with banks and other financial firms, with the intention of enabling faster payments.

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