- Ripple has been crowned the fourth most prestigious VC-backed Fin-tech company in the world, according to CB.
- CB, a global market intelligence, released a report with its findings.
- The international company put together data about the most significant VC-backed Fin-tech organizations.
Ripple is one of the largest Fin-tech companies
Ripple has been crowned the fourth most prestigious VC-backed Fin-tech company in the world, according to CB. CB, a global market intelligence, released a report with its findings.
The international company put together data about the most significant VC-backed Fin-tech organizations. The companies in the CB report would have been worth $1 billion-plus.
CB’s list consisted of 66 companies. Ripple, based in San Francisco, is worth $10 billion and is also responsible for $36 billion Stripe, based in the same place.
Ripple has also orchestrated $39.4 billion Lufax, based in Shangai, and $16 billion Paytm One97. Ripple was unstoppable in 2019 as it gathered $200 million with the help of the SBI group, Tetragon, and Route 66 Ventures.
In 2019, the organization also acquired a $50 million stake in MoneyGram, a remittance platform. The growing company works with over 300 customers via its technology for international payments and transfers.
Without trying too hard, the organizations’ portfolio for assets is significantly valuable. The firm has a stronghold of the cryptocurrency XRP market, as it owns most of it.
According to CoinMarketCap, XRP’s summary market cap is $11.6 billion. CEO Brad Garlinghouse spoke to the Financial Times and said that XRP was one way they kept the cashflow positive but not the only option.
Mr. Garlinghouse continued that their software revenues were also significant for positive cashflow. To support its crypto platform On-Demand Liquidity, the company had to sell $81.39 million worth of XRP.
The company also strategically bought £45.55 million in XRP to sustain its liquidity.