C1 Fund acquires stake in Ripple…"Betting on growth of enterprise blockchain financial infrastructure"

U.S.-listed investment firm C1 Fund (C1 Fund Inc.) said it has purchased a stake in blockchain company Ripple.

According to Morningstar on the 10th (local time), NYSE-listed C1 Fund said, "It purchased shares of Ripple, a global leader in blockchain payments and infrastructure," and added, "This investment is part of a strategic move to expand digital-asset-based financial infrastructure."

C1 Fund is a closed-end listed fund that invests in late-stage digital asset and blockchain infrastructure companies. It said the Ripple stake acquisition aligns with its strategy to expand institutional finance using blockchain technology. The specific size of the acquisition was not disclosed.

Elliot Han, C1 Fund Chief Investment Officer (CIO), said, "Ripple's technological capabilities and international network are the core of blockchain financial infrastructure," adding, "Through this investment, C1 Fund will capture greater growth opportunities amid structural changes in the digital asset market."

Najam Kidwai, C1 Fund Chief Executive Officer (CEO), also said, "We are pleased to include Ripple in our portfolio," adding, "We highly value Ripple's leadership and innovation capabilities and are considering further collaboration with digital asset and technology companies in the future."

Ripple is a company that provides enterprise blockchain solutions and supports payments and asset transfers between global financial institutions through the stablecoin RLUSD and the XRPL network.