Ripple Partners With Singaporean Fund To Drive Web3 Adoption• March 17, 2023 3:23 pm • Comments
It looks like Ripple is once again focusing on ventures that will potentially drive future organic growth for the blockchain and XRP ecosystem.
The company just announced that it will have a strategic partnership with a Singaporean venture capital fund called that Blockchain Founders Fund.
Ripple had also invested in the fund as well although it was not disclosed to the public how much capital was invested exactly.
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However, we do know that the intention of the investment and the partnership is to help develop and drive mainstream adoption of Web 3.0 start ups.
By doing this, it is clear that Ripple sees potential when it comes to the Web 3.0 industry and may have some future plans regarding how it will intersect with XRPL.
Ripple Partners with Blockchain Founders Fund to Accelerate Web3 Adoption – PR Newswire https://t.co/4cEFFQuXcy
— Web3 News Media Official (@web3news_media) March 17, 2023
Currently, Blockchain Founders Fund already has more than 100 companies in its portfolio focused on Web3 activities.
One notable example is LunarCrush, a portal that analyzes crypto projects based on their social media quotability. According to Brooks Entwistle, managing director at Ripple, the partnership with the Singapore fund should unlock the full potential of blockchain as a technology and create a new range of products with real-world applications.
In an interesting way, this partnership combines two traits inherent in Ripple’s business. The first is the crypto company’s affinity with the Asian region.
U.Today previously reported a large number of the company’s partners in key Asian countries, where the interaction is mainly in the area of payments and money transfers.
The fact that the company is investing in other third party companies is also very interesting as many companies have been very conservative with their investments due to the previous crypto winter.
However, the actions of Ripple indicate that the company still has a strong balance sheet and is willing to invest capital in both internal operations as well as external opportunities.
These are often solid indicators of which crypto projects will stand the test of time and the fact that this is happening despite the current lawsuit that the company is in with the SEC is impressive.
The firm now has a wide portfolio of different investments and this is very positive for XRP investors as it proves that XRP will have a wide variety of different use cases.
This guarantees that there is always real utility behind the project and helps prove that it is not classified as a security.
Ripple Invests in Blockchain Founders Fund To Support Web3 Startups.
The funding would go towards accelerating the global adoption of blockchain solutions.
— 🇳🇱 MackAttackXRP 🇳🇱 58K-Followers (@MackAttackXRP) March 16, 2023
The investment is part of Ripple’s efforts to accelerate the adoption of blockchain technology globally.
The funding will be used by BFF to support high-potential early-stage companies that are building the infrastructure and products that will streamline the transition to a decentralized future.
Furthermore, the support from Ripple will help BFF’s ability to invest in a wide range of companies with strong founders and compelling growth potential, while continuing to support existing portfolio companies that are already making its mark in the industry such as Splinterlands, Dogami, Krayon, Altered State Machine, Magnaand, LunarCrush.
Led by Aly Madhavji, Managing Partner, Blockchain Founders Fund invests in top-tier Blockchain startups globally with over 100 portfolio companies predominantly focused on the Web3 landscape.
Ripple has invested in blockchain founders fund (bff), a singapore-based venture capital fund for web3 startups. The investment would support 'high-potential early-stage' startups building blockchain-related products.
— Hawkins Carswell (@HawkinsCarswell) March 17, 2023
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