Sirlibz
Ripple, an online payment system platform utilizing blockchain technology has emerged as the fourth largest VC-backed Fintech Company around the world according to a report by CB Insights.
The company is the parent company of the fourth largest crypto by market capitalization XRP, it is valued at $10 billion. The report showed that it was behind Strip which is valued at $36 billion, Lufax valued at $39.4 billion, and the Indian-based Paytm One97 valued at $16 billion.
Ripple’s arm RippleNet is a network of institutional payment providers using solutions that are developed by the parent company Ripple, to provide a seamless experience to send money world-wide.
The company also has the On-Demand Liquidity (ODL) tool, Ripples XRP-powered product that enables cross-border payments across Europe, Mexico, The Philippines, United States, and Australia.
Ripply raised $200 million through a series C funding round initiated by SBI Group, Tetragon, and Route 65 Ventures. Ripple also announced their purchase of a $50 million stake in remittance platform MoneyGram.
Ripple has grown a lot in partnerships especially with centralized entities like banks or payment systems. Some of those Partnerships or relationships include : Banco Santander, Barclays PLC, Royal Bank of Canada, and Toronto Dominion Bank. Other top banks include Europe’s banking giant, HSBC Holding, and Japan Post Bank.
Ripple
Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Ripple is the only enterprise blockchain company today with products in commercial use by hundreds of customers across 55+ countries. These businesses have access to alternative liquidity solutions through Ripple’s global network, which uniquely uses the XRP Ledger and its native digital asset XRP to help improve payments services worldwide.
Our solutions unify the infrastructure underlying global payments. But it doesn’t stop there. Through the power of decentralized financial technology, institutions and the businesses and people they serve have access to an open and inclusive system no matter where they are in the world.
