Christmas is just around the corner, but Ripple can look forward to a particularly plump gift in advance. California’s FinTech has raised an investment of $ 200 million in the Series C financing round. Series C was managed by Tetragon with the participation of SBI Holdings and Route 66 Ventures. With these investors, Ripple has the necessary expertise to help the company continue to thrive on a global level.
As part of the announcement, Ripple had an extremely positive year. 2019 is therefore “the strongest growth year for Ripple so far”, according to the corresponding press release of December 20. Compared to the previous year, the company had achieved a 10-fold growth in transactions in the network. Banks and payment service providers are therefore increasingly using XRP as a bridge currency to ensure liquidity. The RippleNet payment network also grew to 300 customers worldwide.
CEO Brad Garlinghouse said:
We are in a strong financial position to implement our vision. As others in the blockchain industry slowed or even stopped growing, we reaffirmed our momentum and industry leadership in 2019.
In addition, the developer platform Xpring was further expanded, which provides tools with which third-party providers can implement XRP and the Interledger protocol (ILP) in apps. In June, Ripple also entered into a strategic partnership with the transfer service provider Moneygram , which should help the payment network to expand globally.
Ripple and Kongregate partnership
Blockchain technology is also gradually entering the gaming sector. In March of this year, Ripple announced that it would invest $ 100 million in blockchain start-up Forte through the Xpring initiative. The goal of this investment is to develop an infrastructure that integrates ripple technology into the gaming ecosystem. This partnership is already bearing fruit.
Last week, Forte announced a partnership with the gaming platform Kongregate, which offers thousands of indie games. In addition, Kongregate also develops and publishes games and has a following of 8 million players worldwide.
The partnership with Ripple enables blockchain technology to be used for in-game purchases of certain items and to expand an ecosystem that supports cryptocurrency payments for players.