Ripple, a prominent cryptocurrency payments company, has made a significant investment in beoble, a Hong Kong-based messaging and social platform on the Web3 network. This investment aims to support beoble in launching its services on the XRP Ledger (XRPL).
beoble expressed its gratitude to RippleX, Ripple’s research and development arm, for their support. RippleX is dedicated to empowering XRPL developers by providing them with the necessary infrastructure and assistance to foster growth and innovation on the XRP Ledger.
The exact amount of Ripple’s investment remains undisclosed, but beoble has promised to share more details about the deal in the near future. This development follows RippleX’s announcement of the latest recipients of the prestigious XRPL Grants, with seven projects receiving a total funding of $700,000.
beoble plans to use the funding from Ripple to expand its services on the XRPL. Currently, beoble supports networks such as Binance Smart Chain, Ethereum, and Polygon, but the company also intends to integrate support for Solana in the future.
beoble, known as the “Whatsapp for Web3,” provides a secure messaging platform for users of crypto wallets. Since its beta launch in December 2023, beoble has experienced significant growth, boasting 354,000 total users and 600,000 monthly wallet engagements as of February.
Earlier this year, 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 plans to release the V2 of its messaging platform, including features like B2B connections, social trading, and OTC trading.
In addition to its investment in beoble, Ripple also launched its native token, BBL, which can be used for in-app activities. The token has shown strong performance, with a value of $0.0518 and a 19.26% increase in the last 24 hours. This success reflects the growing confidence in beoble’s platform and its potential to revolutionize Web3 communication.
With Ripple’s investment and its integration with the XRP Ledger, beoble is well-positioned to expand its services and explore new markets. This partnership is expected to further promote the adoption of Web3 solutions and blockchain technologies in everyday life and social media platforms.
Furthermore, Animoca Brands has recently made a strategic investment in beoble, further supporting its vision of becoming a leading Web3 social platform. This investment aims to leverage blockchain technology to enhance user engagement, privacy, and security on the platform.