Ripple in a new statement has alluded its plans to make investments in startups and technology companies so as to devise more uses for XRP which at the moment is the 3rd largest based on the market capping.
In the months of December and January, the value of XRP was recorded to have shot up to about $20,000 for every coin with a collective value of more than $128 billion before the market crashed in January.
The market cap of the token at the moment has dropped to about $30 billion. Ripple has however come under sharp criticism for a perceived non-usage of the of the Cross-border payment services
Ripple’s CEO Brad Garlinghouse while speaking at the Money 2020 in Singapore said that Ripple is staying dedicated on its agenda of enabling banks use its software solution. However, it is also sourcing for investments from companies that could offer alternative XRP usage.
The company’s CEO also hinted at using Omni, the san-Francisco based company specializing in storage and rental services for goods as it lay ground for its XRP platform. It was also alluded that Ripple and 2 of its executives made a $25 investment in Omni with an agreement to introduce XRP to its services.
More than about 50 percent of the Crypto-space companies which managed to raise their capital using ICO have made plans on purging on investment wagons that would transfer money to the companies that had the capability to use their platforms.
Ripple has allegedly been reported that it is preparing to take advantage of the highly valued Cryptocurrency to grow its business.
Reports have it that about a month ago, a good number of the top Blockchain’s company’s came together to launch a $100 million grant fund that had a possibility of expansion to be an investment for profit making too.
Ripple has strongly received strong criticism having failed to attract banks to XRP having a stronger customer base that consists of remittance services from across the borders which are testing XRP as one of the currencies in their payment modules.
For Ripple however, using XRP for small payments and market place payments could be deemed to represent a different value programmes from its main proposal.
Garlinghouse also said that the concerns going around the volatility of the XRP as a payment service is purely fake.