SOURCE: CrossCoin Ventures

March 05, 2014 08:00 ET

CrossCoin Ventures Launches Digital Currency Accelerator

Accelerator Program Focused on Remittance, Wallets, Merchant Solutions and Tax, Analytics and Management Products

SAN FRANCISCO, CA--(Marketwired - Mar 5, 2014) - CrossCoin Ventures (http://www.crosscoinventures.com/) today announced the launch of its digital currency accelerator geared toward concepts that will advance the Ripple ecosystem. Located in the South of Market area in San Francisco, the program will provide startup companies with funding, world-class mentoring, office space, training and direct access to investors.

The program features regular access to Ripple Labs resources and active support from the CrossCoin team. After completion of the four-month program, entrepreneurs are encouraged to maintain an ongoing relationship with mentors and advisors provided by the CrossCoin team. The program includes office space for the initial phase of company building, and has a flexible yet goal-oriented structure that pushes teams to iterate quickly and hit milestones.

"We're welcoming applications from a wide range of entrepreneurs and developers who will help grow the Ripple ecosystem in some way," said Gary Kremen, managing partner at CrossCoin Ventures. "We're especially interested in concepts revolving around remittance between the U.S. and developing nations such as free, real-time microtransactions; wallets for businesses and consumers; merchant solutions; and tax, analytics and management products for multiple fiat and digital currencies."

The CrossCoin team includes Kremen (founder of Match.com, Clean Power Finance and others), Steve Bennet (start-up CFO and angel investor), Adam Marsh (co-founder of Clean Power Finance, Coactive Networks and others) and Ryan Orr (serial entrepreneur and professor at Stanford University). The team has deep expertise in venture formation, team building, full-stack engineering, UI / UX design, regulatory strategy, marketing, and fundraising in the Fintech space.

Ripple Labs is offering comprehensive infrastructure support for the CrossCoin Ventures accelerator. Ripple Labs, the creator of the Ripple protocol, does not own any equity in CrossCoin Ventures nor in any CrossCoin companies.

About CrossCoin Ventures
CrossCoin Ventures invests to create a financial ecosystem that will make exchanging any unit of value for another unit of value as easy as sending an email or loading a webpage. We are big believers in the Ripple vision that payments will be transformed to become global, distributed, instant and free. The open source, distributed Ripple protocol enables free, instant payments to merchants, consumers and developers with no charge-backs and in any currency, from dollars and yen to bitcoins. In addition to running the Ripple accelerator, our partners also invest in Bitcoin and other cryptocurrency companies. For more information and to apply, please visit http://www.crosscoinventures.com.

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