According to Ripple’s statement on April 11, this new investment will provide an opportunity to explore new uses for the XRP Ledger and Interledger Protocol, support initiatives and focus on ‘developing the block-chain field’.
XRP Ledger, an open source platform has a system that is similar to block-chain and that allows trading in different currencies. It is also aimed to use XRP in health care and identity management fields.
Founder and managing partner of Blockchain Capital Bart Stephens stated that XRP will choose the best projects among all startups that use block-chain technology and that their long-term goal is to turn them into successful companies that provide value to their customers.
From what the Senior Vice President for Strategic Growth Patrick Griffin said, it seems that this will not be the first funding. Ripple aims to be one of the biggest players in shaping the next generation of block-chain and crypto companies.
In January, the company announced its partnership with the payment service MoneyGram to speed up Ripple fiat settlements, and it is also preparing to launch an international money transfer application based on the Blockchain xCurrent and RippleNet platforms with Santander.
XRP, which is not based on the principle of proof like Monero and Dash, is a coin that is not mined where block-chain based notebooks called ‘ledger’ is managed entirely by a company.