Published on October 11th, 2017 | by bitcoin0
$31 million raised by Ripio in private ethereum token sale
Bitcoin startup Ripio has raised $31 million in an advanced sale for a forthcoming blockchain network.
Formerly known as BitPagos, the Argentinian startup is raising the funds to build what it calls the Ripio Credit Network, which will utilize as an ethereum token as a medium of exchange between lenders and borrowers.
Ripio is now planning to launch the next phase of its sale on October 24, and the concept has drawn a notable cast of backers.
Investors in the pre-sale included FBG Capital, early ethereum advisor Steve Nerayoff (as well as his venture firm Maple Ventures) and Blacktower Capital, among others.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripio and invested in the Filecoin pre-sale.