Ripple invests in storage service Omni
Ripple invests $25 million in US-based storage system Omni. It was already one of the frequently stated claims that crypto money companies would open to investment in 2018.. This move confirmed these claims.. Omni, a company that offers storage for people with limited space at home. It can even rent out your unused items for you.
This is not the first target for Ripple, of course.. Ripple’s main product is Ripple Coin, or XRP.. Developers prioritize their work on developing this coin. But this goal does not prevent a business deal with Omni.. According to the information on the TechCrunch site, Ripple did not directly invest in the company.. Instead, directors Stefan Thomas (CTO) and Chris Larsen (executive chairman and co-founder) are teaming up with existing Omni investor Highland Capital Partners.. After being told that Omni would be shut down in December, Thomas and Larsen invested in the company with an undisclosed amount of XRP.
Omni founder McLeon: “A step towards reality”
These funds transferred It will also be used for expansions that the company has planned for other cities in the second half of the year.. Thomas McLeon, CEO of Omni, used the following statements for this investment:
This is another step we take to make our vision a global reality.
The company, which provides storage services, has so far raised $14.75 million in traditional investments.. We can see that the steps taken with the last agreement are a very strategic and forward-looking plan.. However, the company said that they want to “not disclose” the details of its alliance with Ripple at this time.
Ripple’s CTO Thomas, on the other hand, used the following statements about this agreement:
Company In many ways, it’s similar to what we do at Ripple for global monetary transfers.
Manish Patel of Highland Capital Partners said:
This is traditional It’s a world-class deal that’s changing the financing landscape, and we’re excited to be a part of it.
Ripple last October announced its incentive program that promised token-using financial institutions to spend $300 million on XRP.. The value of XRP has increased fivefold since then, giving Ripple an even stronger battle. The announcement of this business deal with Omni comes just after Ripple recently signed a partnership agreement with MoneyGram.. In an article in the New York Times, it was revealed that more than 100 banks use Ripple software, but there is no company that uses XRP except only MoneyGram and Mexican money transfer company Cuallix.