Ripple announces a strategic investment in Blockchain Founders Fund (BFF), a venture fund focused on Web3 startups, as stated in a press release.
The partnership forms part of Ripple’s global plan to accelerate blockchain adoption.
“BFF uses the funds raised to support high-potential early-stage projects that build infrastructure and products that simplify the transition to a decentralised future,” the statement said.
The Singapore-based fund’s portfolio includes more than 100 Web3-focused companies, among them — Splinterlands, Dogami, Krayon, Altered State Machine, Magna and LunarCrush.
“Obviously, blockchain technology can transform industries and products with real value for the global market,” added Brooks Entwistle, Ripple’s vice-president.
In late December 2022, Palau‘s President Surangel Whipps Jr. announced a collaboration with Ripple to create a national stablecoin. Earlier, the company announced a partnership with Lithuanian online cross-border payments provider FINCI.
In March 2023, the Ripple team launched a testnet EVM-compatible sidechain of the XRP Ledger with a claimed throughput of 1,000 TPS.