Ripple, a leading crypto payments company, has made an undisclosed investment in beoble, a Hong Kong-based messaging and social app that operates on the Web3 platform. In a recent post, beoble announced that the investment would assist in its efforts to launch its service on the XRP Ledger (XRPL). The company expressed its gratitude to RippleX for their support. The exact amount of the investment has not been revealed, but beoble has promised to share further updates about the deal. Ripple made the investment through its research and development arm, RippleX, which provides infrastructure and support to XRPL developers to drive growth and innovation.
This investment comes shortly after RippleX announced the recipients of the latest XRPL Grants. Out of 132 projects, seven were selected to receive funding: Bitbob, Breezeway, Kodelab, Moai Finance, Propto, Tender Merchant, and VWBL. Each project received $100,000, amounting to a total of $700,000 in funding.
Beoble is a messaging and social platform based in Hong Kong that caters to crypto wallet owners. The company aims to become the “Whatsapp for Web3” and released the beta version of its app in December 2023. In February, beoble successfully raised $7 million in a seed funding round from investors such as Samsung, Hashkey, Cypher Capital, DWF Ventures, and Blockchain Founders Fund. With this funding, beoble plans to launch its messaging platform V2, which will include features like business-to-business integrations, in-app social trading, OTC trading functionalities, and more.
Currently, beoble supports networks such as Binance Smart Chain, Ethereum, and Polygon, but it intends to expand its support to other blockchains like Solana and XRPL. The funds received from Ripple will be utilized to introduce its services on XRPL.
As of February, beoble has a strong user base, with 354,000 monthly users and 600,000 monthly active wallets. The company launched its native token, BBL, on February 28. At present, BBL is trading at $0.0518, showing a 19.26% increase in value over the past 24 hours.
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