EQS-News

tokentus investment AG bought XRP coins for 50,000 euros and thus expands its investment in Ripple

EQS-News: tokentus investment AG / Key word(s): Miscellaneous tokentus investment AG bought XRP coins for 50,000 euros and thus expands its investment in Ripple 20.07.2023 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. tokentus investment AG bought XRP coins for 50,000 euros and thus expands its investment in Ripple

• The Ripple XRP Ledger enables the blockchain-based secure, global transfer of different currencies quickly and cost-efficiently
• XRP is Ripple's own cryptocurrency, that is used as a value transfer and conversion medium
• tokentus extends its investment in Ripple Labs with the purchase of XRP tokens in the amount of EUR 50,000

Frankfurt am Main, 20 July 2023 - Frankfurt-based tokentus investment AG ("tokentus", ISIN: DE000A3CN9R8; WKN: A3CN9R; Symbol: 14D) bought EUR 50,000 in XRP, Ripple's proprietary cryptocurrency. tokentus had already acquired shares in Ripple Labs (www.ripple.com), based in San Francisco, California (USA), via a so-called special purpose vehicle (SPV) in January 2023. Ripple, based on their own statement, operates a global trading centre that enables banks and financial institutions to make cross-border payments in Ripple's proprietary cryptocurrency XRP as a value transfer and conversion medium in a fraction of the time, securely and at significantly lower cost than traditional payment systems.

The Ripple payment network is based on the so-called XRP ledger technology, which enables this secure global transfer of different currencies. In this process, the cryptocurrency XRP contained in the XRP ledger is used as a transfer medium for the conversion and transfer of foreign currencies between counterparties in the RippleNet.

"We expect, based on our own analysis, that Ripple Labs as a software and consulting business, as well as the XRP token as a cryptocurrency, will play significant roles in the financial industry's evolution towards the use of blockchain technology," said Oliver Michel, CEO of tokentus investment AG. "We have of course, always been watching, the XRP coin in parallel with Ripple Labs. Our investment was made after a court decision, in the week of the 13th of July 2023, that brings clarity to the fact that the XRP coin is not a security in the U.S.," adds Benedikt Schulz, Investment Manager at tokentus. "This investment in XRP-Coins complements our previous investment in Ripple Labs and we are acting in accordance with our investment guidelines, according to which we only acquire tokens from companies in which we also hold equity," adds Mona Tiesler, Investment Manager at tokentus.