Ripple Is The Second Most Valuable Company In The Crypto Space
Ripple has been making headlines a lot after the San Francisco-based company managed to bag various essential partnerships in the crypto space.
The firm has been gaining increased recognition this year, and it’s pretty safe to say that despite the fact that the market did not see significant moves in the price of XRP, 2019 was a really great year for both entities.
Now, Ripple makes headlines due to another impressive achievement.
Ripple, the second most valuable company in the crypto space
The company has been just called the second most valuable company in the crypto industry right behind Bitcoin mining giant Bitmain, says crypto research company Messari.
It’s also worth noting that Ripple raised $200 million in a Series C round that’s been led by global investment company Tetragon. SBI Holdings and Route 66 Ventures also took place in this move.
Ripple is valued at $10 billion.
Ripple says the investment “marks a record year for the business and further proves the value of blockchain technology in improving global payments and the broader utility of the digital asset XRP and the XRP Ledger.”
It’s been revealed that the money will help Ripple’s expansion around the globe.
Speaking of expansion, Ripple has been working really hard to promote its products and to also boost the adoption of XRP.
Ripple predicts 2020 market transformation
The head of the Sillicone valley payments company said that he believes the crypto market will shrink.
He believes that a lot of smaller and weaker projects will fall, and the crypto market will become smaller.
You may recall that Garlinghouse said that prices are not vital in the crypto space.
He has been highlighting that what matters the most is adoption and use cases in the real-world for the digital assets.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.