Ripple, behind the popular altcoin XRP, has received investment from a large Germany-based venture capital firm. Here are the details of the investment…
Altcoin project received support from big firm
Blockchain-backed and US-based international money transfer provider Ripple received support with an investment from Tokentus Investment AG. Tokentus has invested in the cutting-edge payments giant through its purpose-built subsidiary (SPV) by the parent company. The investment of the German company Tokentus is thought to be around $100,000. The latest move marks a period of success for Ripple.
The company recently confirmed that it has processed more than 70 million transactions on its ledgers in the ten years it has been on the market. Ripple also has many notable backers, including American Express and Santander. Tokentus CEO Oliver Michael said that the company sees Ripple as a leading name in the blockchain space. “In our view, Ripple is among the most established and important companies in the blockchain space,” he said.
After the public offering, the investment will go directly to Tokentus.
He also commented on Ripple’s IPO plans and how this interacted with his firm’s goals. Because the investment in question is not a direct investment. However, CEO Michel announced that when Ripple goes public, SPV will be terminated and Ripple shares will be transferred to tokentus. Michael used the following statements:
According to the company, an IPO is planned, with the perspective that we naturally want to be an investor. As part of its IPO, SPV will be dissolved and its shares in Ripple will be registered and transferred directly to Tokentus. This puts us in a good position.
It is worth noting that Tokentus is a German VC focused on the blockchain industry. He invested $50,000 in Polysign, an institutional crypto-asset custodian with strong ties to Ripple. The firm previously invested $1.35 million in Celsius, which is now bankrupt. Tokentus Investment Manager Benedikt Schulz said the firm envisions strong “future potential” for Ripple as a firm. Schulz used the following statements:
We see great future potential for Ripple – especially if smart contracts, i.e. digital contracts based on Blockchain, continue to gain acceptance in Ripple technology. But we are already convinced of that.
Increasing demand for Ripple shares
It is worth noting that Ripple shares are in high demand. Because Ripple’s stock on the private investment platform Linqto was among the best sellers. Notably, the last block of Ripple shares on the platform sold out in less than 24 hours, as Nick Burrafato, the company’s director of member investments, predicted. As we have reported as Kriptokoin.com, investments in private companies such as Ripple are limited to accredited investors in the USA.
29343
