In an announcement, OpenCoin disclosed that it had closed a round of financial investments from angel investors. The investors are FF Angel IV, Vast Ventures, Lightspeed Venture Partners, Andreessen Horowitz and Bitcoin Opportunity Fund who is the investment unit of Bitcoins and Bitcoin-related companies.
OpenCoin is the company behind the development of Ripple protocol. Ripple is a circulated open source payments system where its local math-based virtual currency is called ripples. Ripple facilitates free payments to merchants, designers and clients. It has the capacity to pay globally in any currency with no charge-backs. Ripple accepts any currency including euros, dollars, yen and even Bitcoin, which makes them the first global distributed currency exchange. The investment that OpenCoin was able to obtain will be invested in the expansion of Ripple protocol which is currently in its beta version.
OpenCoin is headed by financial technology pioneer Chris Larsen and expert developer Jed McCaleb supported by a team of renowned advisors, developers and investors that is behind a few of globally-renowned technology companies.
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