Ripple Marks 2019 As The ‘Strongest' Year of Growth, Receives $200 Million in Funding

While others in crypto space slowed or shut down, Ripple accelerated its momentum, says CEO Brad Garlinghouse.

  • Ripple’s Series C funding led by Tetragon and accompanied by SBI Holdings and Route 66 Ventures
  • The investment will expedite the company in onboarding new global talent
  • RippleNet saw 10x YOY growth in transactions

Ripple has received a $200 million in Series C funding, marking a record year, announced the company on Dec. 20.

Tetragon, SBI Holdings and Route 66 Ventures led the funding. This investment is intended to be used to back the Internet of Value (IoV) idea. CEO Brad Garlinghouse said,

“We are in a strong financial position to execute against our vision. As others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019.”

The “Strongest” Year of Growth

The US-based fintech company, Ripple is a real-time settlement system to move money instantly to all corners of the world.

The past year has been its “strongest” year of growth. RippleNet grew to over 300 customers worldwide as well as forming a strategic partnership with MoneyGram.

Now, at the end of 2019, they have expanded to more than 45 countries and 6 continents with payout compatibilities in approximately 70 different currencies.

RippleNet actually saw 10x growth overall due to its On-Demand Liquidity product that leverages digital asset XRP.

Recently, we also saw Ripple announcing upcoming plans for its investment arm Xpring. Money offer tools, programs, and services simplify the process of sending and receiving payments in any currency using XRP Ledger and Interledger Protocol (ILP).

Ripple (XRP) Live Price

1 XRP/USD =$0.2052 change ~ -0.31%

Coin Market Cap

$8.88 Billion

24 Hour Volume

$331.63 Million

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AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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