The University of Texas at Austin is among one of the first academic institutions to receive funding from Ripple, the San Francisco-based distributed ledger technology startup.
The company pledged to invest $2 million over the next five years in the university's McCombs School of Business to support its Blockchain Research Initiative, according to a report from The Daily Texan. The funding by Ripple is part of the $50 million it pledged to invest in blockchain research by universities around the world. Other recipients included Princeton University, MIT and 14 other worldwide institutions, the report said. Ripple (XRP) is down 0.51% over the past 24 hours and is currently trading at $0.550980. It can be bought with fiat dollars, debit, or credit cards on cryptocurrency exchanges such as CEX.io and Changelly.