XRP raised over two hundred million dollars ($200 million) in a new funding round

XRP raised over two hundred million dollars ($200 million) in a new funding round

Ripple, The third biggest altcoin by market cap and the blockchain payments company behind XRP, has raised over two hundred million dollars($200 million) in a new funding round.

The company announced on December 20, led by closed-ended investment firm, Tetrgon, the new Series C funding round  was additionally joined by Ripple’s main Japanese partner SBI Holdings and ventures capital company Route 66 Ventures.

The announcement reads, the new funding will supposedly help Ripple to keep on improving its world’s payments  network and the broader  usefulness of the digital asset XRP and the XRP Ledger.

Despite 73% sales drop in Quarter 3,Ripples sees strong yearly growth

The new investment claims to mark a record year for the business ad Ripple supposedly saw its”strongest year of growth to date in 2019.”

Brad Garlinghouse,Triple CEO did the company  has gained momentum continually and accelerate industry leadership,whilst o

“others  in the blockchain space have slowed their growth or even shut down.”

Ripple claims to have customers in over forty-five countries and and six continents to date,with payout abilities in more than seventy countries. 

The company has supposedly seen a ten foldyear-over- year growth  in transactions while the firm’s world’s payments network RippleNet grew to more than three hundred(300) clients worldwide.

The company has seen a significant drop in sales in the third quarter of 2019 while Rippple claim that 2019 had become its strongest year so far.

According to a report in mid-October, Ripple’s quarter 2019 sales were down over seventy-three percent compared to the record sale of $251.51 million in quarter two.

Ripple entered a partnership with the globe’s second largest payment firm MoneyGram earlier in 2019 with Garlinghouse claiming that MoneyGram using Ripple’s xRapid liquidity producer is a bigger deal than Facebook’s stable coin project Libra. 

Late in November, MoneyGram secured a twenty million dollars fairness  investments from Ripple as part of its original fifth million dollars Furness investment commitment

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *