Ripple Labs has been on the investors’ radar in recent days, especially with the growing interest in the XRP lawsuit.
In a recent development for Ripple, Frankfurt-based tokentus investment AG said that it is set to collaborate with Ripple, joining forces to support startups in its XRPL Accelerator Program.
This initiative aims to foster and develop projects on the XRP Ledger (XRPL). Ripple, renowned for its enterprise blockchain and cryptocurrency solutions, will play a pivotal role in this partnership, marking a significant step in the growth of the blockchain ecosystem.
The Frankfurt-based tokentus investment announced the decision to partner with the aim of mentoring start-ups under Ripple’s XRPL Accelerator Program.
XRPL Accelerator Program Benefiting Startups:
The program is designed to grow and build projects on the XRP Ledger (XRPL) under Ripple Labs, which is a known provider of enterprise blockchain and crypto solutions. The role of this company is to make a key contribution to open source, energy efficient, and decentralized layer-1 blockchain.
Meanwhile, Ripple has dedicated 1 billion XRP to developer resources, including the XRPL Grants Program. Notably, the XRPL Accelerator Program will aid XRPL in speeding up, training, mentoring, and expanding projects within the XRPL community.
The current accelerator program is an extension of the original XRPL Grants program, announced in 2021, and since launch has extended support to more than 100 projects and $13 million in funding to date.
It’s worth noting that tokentus investment AG has also previously invested in financial assets, equity and token investments, blockchain-focused venture capital funds, and SPV structures.
Also Read: Hamas Crypto Funding, A Small Yet Significant Contributor to Hamas’ Violence
How Will This Partnership Help XRPL Growth?
Oliver Michel, the Chief Executive Officer (CEO) of Tokentus Investment AG, expressed confidence in this partnership with Ripple Lab, and said, the partnership with Ripple on the XRPL Accelerator Program will be the next step towards helping grow the XRPL ecosystem.
With a belief that technology holds significant importance and value in the blockchain and crypto markets, Oliver said that direct access to interesting targets together with strong co-investors is an absolute success factor for tokentus, specially invited by companies to mentor their program, helping other startups to grow.
With the help of a constantly growing network of co-investors, tokentus acquires international financial investments, and shares of companies with a business model, directly associated with blockchain technology and SPV structures.
Meanwhile, besides tokentus investment AG, the partnership will be a boost to Ripple, as its XRP is the only token with legal status in the United States as non-securities.
Besides Bitcoin (BTC), neither Ethereum (ETH) nor any other cryptocurrency has been officially and legally recognized as non-securities.
Also Read: Bitcoin Options Data Shows BTC Price Longs Gaining Strength
