Popular blockchain company Ripple has been making a name for itself with its recent investments. In this article, we will talk about Ripple’s latest investments. Here are the details…
Ripple buys Bitstamp shares
Ripple has acquired shares of Bitstamp previously owned by Pantera Capital, an American investment firm specializing in cryptoassets and crypto-asset-focused companies. This strategic move reflects Ripple’s strong expansion drive, evident by its continued growth-oriented efforts. Investment management firm Galaxy Digital Holdings announced this development in its latest quarterly report. According to the report, Galaxy Digital advised Pantera to sell its Bitstamp shares to Ripple in the first quarter of this year.
Galaxy Digital President and CIO Christopher Ferraro also highlighted this move in a conference call. According to a report published by Bloomberg in 2014, Pantera Capital made a significant investment of up to $10 million in Bitstamp in 2013, just before the UK-based exchange gained significant recognition. However, Pantera sold its shares to Ripple ten years later. As noted by WrathofKahneman, who is important within the XRP community, the exact reason for the sale remains unclear.
The company acquired Metaco
On the other hand, Ripple has acquired the US Swiss-based crypto custody firm Metaco for $ 250 million. Metaco is producing technology that allows financial institutions to store and manage crypto assets. Its clients include Citi, BNP Paribas, and the cryptoasset arm of Societe Generale.
Investor interest in cryptos has cooled after the drop in their price and the collapse of major crypto firms. Investors have become increasingly wary of where and how their crypto assets are stored, after crypto platforms that freeze withdrawals have faced huge losses. However, Ripple CEO Brad Garlinghouse said he expects increased demand for crypto custody services from institutional investors.
Invest in Dispersion Capital’s $40 million fund
Finally, the company is now a key participant in a newly announced $40 million fund by Dispersion Capital, dedicated to the emerging web3 space. Dispersion Capital, an early-stage venture firm, plans to invest in decentralization, a key aspect of the web3 concept. Dispersion Capital has funded 20 companies to date, and each has received post-investment funding. Patrick Chang, founder and managing partner of Dispersion Capital, has a strong background in the web3 space, stemming from his time as Samsung Next led blockchain investments. Chang’s expertise has also been endorsed by Circle Ventures, another contributor to the fund. Chang’s ability to identify promising and ambitious talents in the web3 space was highlighted.
Dispersion Capital positions itself as a catalyst for the development of functional, scalable and accessible decentralized applications. However, the maturity of the web3 infrastructure and the successful deployment of next-generation applications remains an open question. Circle Ventures celebrated Dispersion Capital’s efforts in a recent statement. He stated that he is looking forward to seeing the impact of the company on the web3 ecosystem. The new fund has also received support from Faction, Lightspeed, Wemade, Alchemy Ventures, Hashkey, Forte, and others.
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