Ripple's XRP is '100% Not a Security,' Says Company's Chief Market Strategist

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This can be said of Ripple.

Two things are unusual about this: This is a rare example of a startup funding a venture capital firm, as opposed to the reverse, and it's a venture capital firm that has previously funded it, too.

San-Francisco-based Ripple is developing a blockchain-based payment service to help out banks.

Putting speculations to rest once and for all, one of Ripple's top executives told a financial daily that XRP is not a security.

Fintech startup Ripple divulged an investment of $25 million Dollars worth of its own currency XRP in Blockchain Capital - a venture firm that specializes in blockchain and crypto projects. The investment firm is expected to invest in entrepreneurial teams that are blockchain-focused. Ripple's own investment will also be used to "provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol", Ripple stated today in a blog post.

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

Blockchain Capital is already a major investor in Ripple and is now looking to strategically pour its new stockpile of XRP tokens into healthcare and identity management companies. "Whether we are using Bitcoin, XRP or any other Blockchain technology our aim is to find good projects and support them to become successful companies that will deliver value to different customers in the future".

Blockchain Capital is a rare breed - it has set up a $75 million fund that runs in parallel to its own fund that reportedly only takes contributions made in crypto.

"This is the first fund that we've contributed to, and it won't be the last", said Ripple's senior vice president of Strategic Growth, Patrick Griffin.

The reason behind this investment, according to Ripple is that the firm believes in supporting the XRP Ledger and Interledger Protocol, at the same time, the cryptocurrency firm is ready to continue to seek opportunities and support entrepreneurs, companies and funds that share this vision.

The fund is targeting entrepreneurs and development teams using blockchain in both novel ways and furthering the implementation of cryptocurrency in the real world.

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