- Ripple, a major blockchain-powered international money transfer provider, has received a boost following an investment from tokentus investment AG.
- The investment from tokentus, a German firm, is thought to equal around $100,000.
- “We see great future potential for Ripple, especially if so-called smart contracts, i.e., digital contracts based on the blockchain, continue to gain acceptance in Ripple technology, which we are convinced of,” said a spokesperson for tokentus.
Major blockchain-powered international money transfer provider Ripple has received a boost following an investment from tokentus investment AG.
Tokentus has made the investment in the cutting-edge payments giant via a special purpose vehicle (SPV), a subsidiary created by a parent company for a defined purpose. The investment from tokentus, a German firm, is thought to equal around $100,000.
The latest move builds on a period of success for Ripple. The company recently confirmed that it has run over 70 million transactions through its books in a decade. Ripple also has a number of high-profile partners and backers, including American Express and Santander.
Oliver Michael, CEO of tokentus, said that the company viewed Ripple as a leading name on the blockchain circuit.
"In our opinion, Ripple is among the most established and significant companies in the blockchain space,” he explained.
He also commented on Ripple’s plans for an initial public offering and how that interacted with his firm’s goals.
“According to the company, an IPO is planned in perspective, in which we naturally want to be an investor. As part of its IPO, the SPV would be dissolved, and its shares of Ripple would be registered and directly transferred to tokentus. This puts us in a good position," he said.
Benedikt Schulz, Investment Manager at tokentus, said that the firm envisaged a strong “future potential” for Ripple as a firm.
“We see great future potential for Ripple, especially if so-called smart contracts, i.e., digital contracts based on the blockchain, continue to gain acceptance in Ripple technology, which we are convinced of,” he said.
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