Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US based technology company.
Ripple provides global financial settlement solutions to enable the world to exchange value like it already exchanges information – giving rise to an Internet of Value (IoV).
Ripple was founded in 2012 by Chris Larsen, and Arthur Britto. The company is based in San Francisco, California with offices in New York, London, Mumbai, Sao Paulo and Sydney.
Ripple allows financial institutions to process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.
RippleNet offers connections to hundreds of financial institutions around the world via a single API and makes moving money faster, cheaper and more reliable for you and your customers.
Ripple is the only enterprise blockchain company today with products in commercial use by hundreds of customers across 55+ countries. RippleNet’s payment volume run rate has exceeded $10 billion in 2021.
Ripple is backed by SBI Holdings, Tetragon, Route 66 Ventures, IDG Capital Partners, Core Innovation Capital, Santander InnoVentures, and others. The company has announced a $200M Series C share buyback on Jan 26, 2022. The transaction valued the company at a $15B post-money.