CDS Crypto News Tokentus Invests Ripple in anticipation of IPO
Crypto News

Tokentus Invests Ripple in anticipation of IPO

19
Tokentus Investment AG Invests in Ripple in anticipation of IPO
Tokentus Investment AG Invests in Ripple in anticipation of IPO

Tokentus shows promise as a smart contract platform on XRP Ledger.

Investments in Ripple on the Rise

Recently, Germany-based venture capitalist Tokentus Investment AG announced in a press release that it has invested in US blockchain payment company Ripple.

According to a statement made by the company, 100,000 was invested in Ripple through a Special Purpose Vehicle (SPV), a legal entity created to allow investors below a specific bar to pool their funds into a single asset.

Commenting on the issue, Tokentus CEO Oliver Michel said: “In our opinion, Ripple is among the most established and significant companies in the blockchain space. 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.”

Ripple through Tokentus’ Eyes

According to company, Ripple is among the most established and significant companies in the blockchain space. Ripple has enormous potential for the future. The company would like to become an investor in the scenario where Ripple plans an IPO.

Benedikt Schulz, investment manager of Tokentus Investment AG, said: 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.

Tokentus Investment AG, a German VC focused on the blockchain industry, also invested $50,000 in Polysign, an institutional digital asset custody provider with strong ties to Ripple. Prior to that, the firm invested $1.35 million in now-bankrupt crypto lender Celsius.

SOURCE

VISIT OUR OTHER BLOGS: ALL NEWS 

Written by
Burak DANACI

The author focused on financial markets after graduating from Anadolu University, Department of Economics. After meeting with blockchain technology in 2019, he produces content on youtube and twitter in this field.

Leave a comment

Leave a Reply

Related Articles

Binance to Temporarily Suspend Margin and Earn Services for Scheduled Upgrade

Binance to Temporarily Suspend Margin and Earn Services for Scheduled Upgrade

Can Bitcoin Save Struggling Currencies like the Turkish Lira?

Can Bitcoin Save Struggling Currencies like the Turkish Lira?

BitGo Reaches Preliminary Agreement to Buy Prime Trust

BitGo reaches agreement to buy Prime Trust. BitGo, a cryptocurrency custody company,...

Founder of Terra Accused of Withdrawing Millions in Cryptocurrency, $13 Million Still Held in Swiss Bank

Founder of Terra Accused of Withdrawing Millions in Cryptocurrency, $13 Million Still...