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CNBC

Blockchain firm Ripple, whose digital currency has seen huge volatility in recent months, is investing in a US$150 million blockchain-focused fund.
Ripple, which owns about 60 billion of the 100 billion ripple, or XRP, tokens created, said Wednesday that it would invest US$25 million into the fund, created by Blockchain Capital, a venture capital firm dedicated to blockchain tech.
Blockchain is the technology that underpins cryptocurrencies. It records a continuously growing list of transactions across a distributed network. The original blockchain was used as the foundation for bitcoin.
 Ripple said its investment would allow it to develop inroads with entrepreneurs and other companies in the blockchain space.


“This is the first fund that we've contributed to, and it won't be the last,” Patrick Griffin, senior vice-president of strategic growth at Ripple, said in a statement Wednesday.
“We plan to be major players in shaping the future generation of blockchain or crypto companies.”
Ripple seems to have shown increasing interest in investing in other companies as of late. CEO Brad Garlinghouse told TechCrunch in March that the firm wanted to invest in more start-ups that want to use its cryptocurrency.
George Soros’ office is preparing to trade in cryptocurrencies 
Ripple has struck several partnerships with banks and other financial firms, with the intention of enabling faster payments. Those partnerships have rarely included the use of its digital asset, but earlier this year the company announced deals with both Western Union and MoneyGram.
Its cryptocurrency, which hit a record high of US$3 in January, has pulled back significantly to around 50 cents. It rose soon after the announcement, and was up almost 0.9 per cent, according to CoinDesk data.
CoinDesk's price indexes track prices from several cryptocurrency exchanges. http://www.cnbc.com/id/105124253


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Cryptocurrency

Ripple invests US$25 million worth of its own cryptocurrency into a blockchain-focused fund

Representations of (left to right) the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard. Photo: Reuters

Bitcoin latest: prices, policies and politics

It now takes 556 days of computing and a hefty electricity bill to mine a single bitcoin. Photo: EPA

A Bitcoin ATM is placed in a public area in Hong Kong, Thursday, Dec. 21, 2017. Bitcoin is the world's most popular virtual currency. Such currencies are not tied to a bank or government and allow users to spend money anonymously. They are basically lines of computer code that are digitally signed each time they are traded. (AP Photo/Kin Cheung)

A OFO bike-sharing bicycles are seen parked on the street in the Futian district in Shenzhen. 24OCT17 SCMP / Roy Issa

A bitcoin miner at a bitcoin mine in Sichuan Province, China, on September 26, 2016. Miners can check a machine's condition and operations using phones and personal computers. Photo: EPA

Members of Japan's idol group "Virtual Currency Girls" wearing cryptocurrency-themed masks pose after performing in their debut stage event in Tokyo, Japan, January 12, 2018. REUTERS/Kim Kyung-Hoon

Cameron (L) and Tyler Winklevoss are seen at the Head of the Charles Regatta in Boston, Massachusetts in this October 23, 2010 file photo. The twin brothers who accused Facebook Inc and its founder Mark Zuckerberg of stealing their idea for the social networking website lost their bid to have a federal appeals court void a settlement of their claims. The identical twin Winklevosses were classmates of Zuckerberg at Harvard University and are rowers who competed in the 2008 Beijing Olympics. Their feud with Zuckerberg was dramatized in the 2010 film "The Social Network." Picture taken October 23, 2010. REUTERS/Adam Hunger/Files (UNITED STATES - Tags: SPORT ENTERTAINMENT SCI TECH CRIME LAW BUSINESS ROWING)

Venezuelan President Nicolas Maduro(C) speaks in front of a computer used to mine crypto currency Ethereum at the International Science and Technology Fair (FITEC) in Caracas on December 3, 2017. Venezuela is creating a digital currency to combat a financial blockade by the United States, President Nicolas Maduro announced Sunday. The Petro will be backed by Venezuela's oil and gas reserves and its gold and diamond holdings according to Maduro. / AFP PHOTO / PRESIDENCIA