Ripple Labs Inc. has formed a partnership with Frankfurt-based investment company, Tokentus Investment AG, to support the growth and adoption of the XRP Ledger (XRPL). Tokentus specializes in the blockchain sector and will provide mentorship and guidance to emerging start-ups as part of Ripple’s XRPL Accelerator Program. This collaboration comes after Ripple’s commitment to allocate 1 billion XRP to support developer resources through the XRPL Grants Program.
The XRPL Accelerator Program, initiated by Ripple, is aimed at entrepreneurs, start-ups, and young enterprises interested in establishing their operations on the XRP ledger. By partnering with Tokentus, Ripple aims to expedite, educate, mentor, and expand projects developed by the XRPL community.
To be eligible for the XRPL’s Accelerator Program, founders must demonstrate an MVP (Minimum Viable Product) with the potential to meet significant market demand, a tech-focused founding team, and a product that addresses a prominent market pain point. Ripple has a history of supporting projects through its XRPL Grants program, which has provided funding and assistance to over 100 projects, totaling $13 million.
Oliver Michel, the CEO of Tokentus Investment AG, expressed his excitement about the partnership, stating that it represents the next step in growing the XRPL ecosystem. He believes that this technology holds high importance and value in the blockchain and crypto markets. Benedikt Schulz, an Investment Manager at Tokentus, emphasized the strategic advantage of having early access to interesting targets and strong co-investors, stating it is an absolute success factor for Tokentus as a venture capitalist for blockchain companies.
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Tokentus Investment AG has shown a consistent interest in Ripple and its affiliated ventures. The company primarily focuses on the blockchain market and facilitates investments in blockchain-related financial assets, equity, tokens, blockchain-centric venture capital funds, and SPVs. Earlier this year, Tokentus disclosed a $100,000 investment in Ripple through a Special Purpose Vehicle (SPV), with the shares from the SPV transitioning to Tokentus once Ripple goes public with its IPO. This move positions Tokentus favorably for the anticipated IPO.
In addition to their investment in Ripple, Tokentus has also shown enthusiasm for XRP and other Ripple-affiliated ventures. In July, they increased their investment by purchasing XRP coins worth 50,000 euros, following a favorable US court ruling that confirmed XRP is not classified as a security. They have also invested $50,000 in Polysign, an institutional custody provider with strong ties to Ripple.
At the time of writing, XRP is being traded at $0.4823.
This collaboration between Ripple and Tokentus Investment AG represents a significant step in fostering the growth and development of the XRP Ledger. With Tokentus providing mentorship and guidance, start-ups and entrepreneurs utilizing the XRPL Accelerator Program will receive valuable support to drive their projects forward. The partnership also highlights Tokentus’ confidence in Ripple, XRP, and the potential of the blockchain and crypto markets.
