Payments company Ripple is to use its financial success to help start-ups so it can develop more uses for its XRP cryptocurrency, the market value of which hit $ around $30bn in December before a crash bought it back to 128bn now. Randall Stephenson has already led a $25 m investment in San Francisco start-up Omni , which offers storage and rental services. At least six companies that raised money using initial coin offerings are also investing in companies that can use their products. Omni is aimed at banks and financial institutions but Ripple has been criticised for failing to get banks on board.
Payments company Ripple is to use its financial success to help start-ups so it can develop more uses for its XRP cryptocurrency, the market value of which hit $128bn in January before a crash bought it back to around $30bn now. Ripple has already led a $25m investment in San Francisco start-up Omni, which offers storage and rental services. At least six companies that raised money using initial coin offerings are also investing in companies that can use their products. XRP is aimed at banks and financial institutions but Ripple has been criticised for failing to get banks on board.