Ripple wants to invest in startups that will put its XRP cryptocurrency to work


Payments company Ripple says it plans to invest in startups and technology companies to develop more uses for XRP, its cryptocurrency that is currently the third largest digital token behind bitcoin and Ethereum based on total market cap.

The value of XRP shot up in December and January following a crypto market rally that saw bitcoin reach nearly $20,000 per coin. The collective value of XRP was worth more than $128 billion at peak before a market crash in January walked those prices back significantly. Today, the token has a total market cap of around $30 billion but Ripple has come under fire for a perceived lack of use for XRP, which has been marketed as a tool for banks but has attracted only cross-border payment services as customers.

Speaking on the sidelines at Money2020…

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