San Francisco State University has announced a $25 million commitment from alumnus Chris Larsen, his wife, Lyna Lam, and the Rippleworks Foundation in support of the university's College of Business.

The gift of cryptocurrency Ripple (XRP), the first such gift in SFSU history, is believed to be the largest gift ever of a digital asset to a U.S. university. The Chris Larsen and Lyna Lam Funds for the College of Business will endow two new faculty chairs, the Rippleworks Endowed Chair for Innovation & Entrepreneurship and the Lam-Larsen Endowed Chair in Financial Technology, as well as the Lam-Larsen Fund for Global Innovation, which will focus on bringing together students, alumni, faculty, and experts across disciplines to learn about every aspect of entrepreneurship. Pending approval from the California State University Board of Trustees, the business school will be renamed the Lam Family College of Business.

Since 2001, Larsen and Lam have given the university more than $800,000. A serial entrepreneur, Larsen earned a BS in accounting and business administration from SFSU in 1984, and Lam's two sisters and numerous other family members also attended the university.

"SF State students have great potential because of their position. Most of the world is outside of this ecosystem, and they're really trying to catch up," said Larsen. "Being here in San Francisco gives SF State's students amazing career opportunities. These funds are focused on guiding these students in becoming innovators, entrepreneurs, and leaders, enabling them to become changemakers in business and their communities."