Ripple completes $ 200 million Series C financing, valuation reaches $ 10 billion

Ripple announced on the official website today that it has completed a $ 200 million Series C financing. This round of financing was led by Tetragon, with SBI Holdings and Route 66 Ventures participating. According to reports , the round C financing valued Ripple at $ 10 billion; according to Hurun's 2019 list of global unicorns, Ripple was valued at $ 5 billion at the time.

Ripple said that this round of financing marks a record year for its business development and further proves the value of blockchain technology in improving global payments and the wider use of digital assets XRP and XRP Ledger. C-round investors not only recognize Ripple's long-term potential, but as partners, they can provide valuable industry insights and expertise to help Ripple's business grow globally.

Ripple CEO Brad Garlinghouse said:

"Our financial situation is very good enough to fulfill our vision. Although the growth of some other companies / projects in the blockchain space has slowed down or even shut down, we accelerated the development momentum throughout 2019 and strengthened the industry Our lead. "

Garlinghouse told Fortune magazine on Friday that Ripple was not short of money. The Block data shows that Ripple has sold $ 260 million worth of XRP in the past year.

In 2019, Ripple has made great progress. The company's global payment network, RippleNet, has grown to more than 300 users worldwide, including a strategic partnership with MoneyGram. Today, the network has customers in 6 continents, 45 countries, and has the ability to pay in more than 70 countries. Good development momentum has driven transactions across the network to increase 10-fold year-on-year, and more banks and payment providers are using XRP to provide liquidity on demand than ever before.

In addition, Ripple announced plans for the next phase of Xpring. The platform provides tools, services and procedures that make it easier for developers to send and receive payments in any currency on any network using XRP Ledger and Interledger Protocol (ILP), eliminating the pain points of integrating funds into applications And friction.

Ripple believes that this round of financing will accelerate the company's ability to attract global talent to meet market demand and better serve its growing customer and partner community. Ripple's C round of financing is just a highlight moment in the Long March. Ultimately, this round of investment will support Ripple's broad vision of the Internet of Value (IoV), making transferring value globally as simple, efficient, and inexpensive as the flow of information.

2019 is a downturn in China's blockchain investment and financing. According to a report jointly released by the Zero One Think Tank and the Digital Asset Research Institute, in the past year, the total amount of public financing disclosed by the Chinese blockchain industry in each month has not reached the level of 1 billion. Among them, in May 2019, blockchain companies / projects raised the highest amount of financing, at 832 million yuan, accounting for 20% of the total financing in the past year. The amount of Chinese blockchain company / project financing is slightly higher than that of the United States, but the amount of financing is only a quarter of that in the United States. This time Ripple has raised another 200 million US dollars, which has exceeded the highest January in a single year. The gap between China and the US blockchain industry needs us to face up.