Ripple Expands Significantly through 2019

News / 20.12.2019

On the 20th of December 2019, Ripple raised 200 million USD in yet another funding round. Tetragon, SBI holdings, and Route 66 ventures were part of the funding round process.

The acquired funds’ objective is to assist Ripple in improving its international payments network and utilizing the XRP cryptocurrency and the XRP ledger.

The year 2019 is remarkable for Ripple as regards investment, as it is supposedly the strongest year of growth to date. Brad Garlinghouse, the Ripple CEO, pointed out that the firm keeps increasing momentum and accelerating industry leadership. Such change occurred while others in the domain experienced a reduction in growth or even closed down.

Analyzing Ripples Performance

There is usually a belief that the firm’s customers are in a minimum of forty-five countries and six continents. Additionally, it can pay out in a minimum of seventy nations. The firm is consecutively growing every year within the last ten years. On the other hand, the company’s international payment network expanded to more than 300 customers worldwide.

Despite the firm’s supposed most substantial growth in 2019, its sales in the third quarter of the same year declined remarkably. The mid-October reports show that there was a drop in the sales of Ripple in the third quarter by over 73% in comparison with the outstanding 251.51 million USD sales in the second quarter.

In the early moments of 2019, a partnership ensued between Ripple and Money Gram. Some days ago, MoneyGram secured a $ 20 million equity investment from Ripple as part of its initial $ 50 million equity investment commitment.

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