Ripple, a prominent cryptocurrency payments company, has made a significant investment in beoble, a messaging and social platform based in Hong Kong that operates on Web3. The investment aims to support beoble in launching its services on the XRP Ledger (XRPL).
beoble expressed its gratitude towards Ripple’s research and development arm, RippleX, for their support. RippleX is dedicated to empowering XRPL developers by providing the necessary infrastructure and support for growth and innovation on the XRP Ledger.
The exact amount of Ripple’s investment has not been disclosed, but beoble has promised to share more details about the deal in the near future. This investment follows RippleX’s recent announcement of the recipients of the prestigious XRPL Grants, where seven projects were granted a total of $700,000.
beoble plans to use the funding from Ripple to expand its services on XRPL, in addition to its existing support for networks like Binance Smart Chain, Ethereum, and Polygon. The company also has plans to integrate support for Solana in the future.
beoble, often referred to as the “Whatsapp for Web3,” offers a secure chat platform for crypto wallet users. Since its beta launch in December 2023, the company has experienced significant growth, with 354,000 total users and 600,000 total monthly wallet engagements as of February.
In February, beoble successfully closed its seed funding round, securing $7 million from investors such as Samsung, Hashkey, Cypher Capital, DWF Ventures, and Blockchain Founder Fund. With this funding, beoble aims to release the V2 of its messaging platform, which will include features like B2B connections, social trading, and OTC trading.
Furthermore, beoble introduced its native token, BBL, on February 28. The token can be used for all in-app activities and has seen a strong performance, with a 19.26% increase in value in the last 24 hours. This performance reflects the growing belief in beoble’s platform and its potential to revolutionize Web3 communication.
With Ripple’s investment and its operation on the XRP Ledger, beoble is well-positioned to expand its services and explore new markets. This partnership is expected to enhance the adoption of Web3 solutions and further the integration of blockchain technologies in everyday life and social media platforms.
This news comes in the wake of Animoca Brands’ strategic investment in beoble, further solidifying beoble’s goal of becoming a leading Web3 social platform. The partnership aims to leverage blockchain technology to enhance user engagement, privacy, and security.