Blockchain Company Ripple’s Value Reaches $ 10 Billion
Blockchain company Ripple increased its C Series venture capital by another $ 200 million. Thus, the total value of the company reached $ 10 billion. The $ 200 million venture fund came from New York-based Tetragon.
Blockchain company Ripple added another $ 200 million to the C Series venture capital, making the company worth $ 10 billion. During the digital money boom in 2017, Ripple became famous for its XRP crypto currency. Ripple’s new venture capital is managed by the New York-based investment company Tetragon, while the company is supported by Japan-based SBI Holdings and venture capital firm Route 66 Ventures.
Ripple CEO Brad Garlinghouse said they were in a strong financial position to realize their vision. Garlinghouse said that the growth of other companies in the blockchain area has slowed down or even closed, but Ripple increased its momentum and industry leadership throughout 2019.
‘Ripple grows despite the decline in crypto currency’
On the news, XRP was rated at 4%. Ripple uses XRP to make cross-border payments to financial institutions within its network. XRP also uses a messaging system used by banks to send money. Crypto money was used for over $ 3 in January 2018, but as with most digital money, it fell to $ 0.19 per day.
Ripple funds most of its operations by selling its positions in XRP. The company sold $ 260 million worth of crypto money last year and announced that it now deals with more than 300 partners around the world, and trades within its network grew by 900% a year ago.
Ripple stated that the new investment will be used to accelerate recruitment and serve the growing customer and partner community better. The XRP lost nearly 44% during the year.