Ripple succeeds in raising $200 million in a new investment round
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Answer Ripple succeeds in raising $200 million in a new investment round
Ripple announced on Friday that it has successfully raised $200 million in a new investment round.
Among the companies that participated in the new investment round, “SBI Holdings” and “VC Route 66 Ventures” of Japan.
Brad Garlinghouse, CEO of Ripple, said:
We are in a strong financial position to implement our vision
The slowdown in others’ growth, or even shutdowns, accelerated the momentum and our leadership in the industry during 2019.
The investment will allow the company to further attract new international talent and better serve customers and partners, the company said.
New stakeholders will provide valuable industry insight and experience as Ripple grows and develops its business according to to advertise.
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By highlighting what she called the strongest growth year to date.
Ripple said that the payments network “RippleNet” had a growth in 2019 and was able to reach more than 300 customers.
Ripple also partnered with MoneyGram, and acquired a stake of approximately 10% in the remittance company.
As part of the deal and partnership, MoneyGram will use Ripple’s products for cross-border transfers.
In its latest financial report, Ripple said that total XRP sales for the third quarter of 2019 amounted to $66.24 million, up from the $251.51 million recorded in the previous quarter.
Ripple will be in court next month, to defend its motion to dismiss the lawsuit alleging that its XRP sales amounted to an unregistered security release.
Earlier this month, Ripple dismissed the case, saying:
Along with other arguments, even if XRP was a security, the plaintiffs’ investors filed their case too late to proceed.
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XRP saw a slight price drop as investment news spread.
Read also:
Ripple CEO: I expect 20 banks to join cryptocurrency trading in 2020
Surprise… Ripple Partner MoneyGram Does Not Hold Any XRP
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