Ripple, the blockchain payments firm behind XRP altcoin has raised $200 million in a new funding round.
On Dec. 20 the firm announced on the funding deal. It was led by closed-ended investment company Tetragon. The new Series C funding round was also joined by Ripple’s major Japanese partner SBI Holdings and venture capital firm Route 66 Ventures.
Ripple Continues To Gain Momentum
The funding will reportedly help Ripple to continue improving its global payments network and the broader utility of the digital asset XRP and the XRP Ledger.
The new investment is claimed to mark a record year for the business as Ripple reportedly saw its “strongest year of growth to date in 2019.”
CEO of Ripple, Brad Garlinghouse said that the company continues to gain momentum and accelerate industry leadership, while “others in the blockchain space have slowed their growth or even shut down.”
As of yet, Ripple claims to have customers over 45 countries and six continents, with payout capabilities in more than 70 countries. The company has reportedly seen a 10-fold year-over-year growth in transactions, while the firm’s global payments network RippleNet grew to more than 300 customers worldwide.
Source: Cointelegraph | Ripple