Payments company Ripple is to use its financial success to fund 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 made a $ 25 m investment in San Francisco start - up Omni , which offers storage and rental services . Note: 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 .
Payments company Ripple is to use its financial success to fund 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 made 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 . XRP is aimed at banks and financial institutions but Ripple has been criticised for failing to get banks on board .