OpenCoin Supported by Google Ventures and IDG Capital Partners

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OpenCoin disclosed that it concluded another circle of angel funding from renowned investors IDG Capital Partners and Google Ventures. OpenCoin is the organization that first built the Ripple protocol, a payment system that is open source and a math-based online currency that simultaneously powered the world's foremost circulated currency exchange. Ripple provides fast, safe and most importantly free transactions of any volume and currency at any part of the globe without any chargebacks for merchants.

According to OpenCoin Chief Executive Officer Chris Larsen, "Ripple will change the way money moves, removing many of the costs and delays we accept as normal today. With Ripple, sending money to anyone, anywhere in the world will be as easy as sending an email."

"The OpenCoin team has an incredible track record and presents a compelling vision for the future of money," according to IDG Capital Partners' Feng Li. "We are excited about the prospect for a global payments system that powers instant, free, and secure transactions in any currency."

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