Ripple ends the year with yet another major announcement after raising $200 million in series C investment, pushing company valuation over $10 billion.
Series C investment rounds mean the company has already proved itself and the products it offers, focusing on scaling the company quickly and successfully.
Investors involved in a Series C investment are likely big players expecting to at least double their money, ‘a sure thing’ for want of a better term.
Today, Ripple is thrilled to announce $200 million in Series C funding—an investment that marks a record year for the business & further proves the value of blockchain technology in improving global payments & the broader utility of the digital asset XRP & the XRP Ledger. We are in a strong financial position to execute against our vision, as others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum & industry leadership throughout 2019
Sadly the price of XRP is still way below its true value due to heavy market manipulation as major institutional investors await market regulation and SEC clarity.
Expect things to change rapidly as 2020 starts to unfold, this new valuation and investment drive is monumental for both Ripple and its token XRP.
CNBC News anchors were shocked as they revealed the valuation, clearly, there are still those who cannot grasp the revolutionary work Ripple has been doing.
The market decides it, if its worth $10 billion to them its worth $10 billion to me, does that make sense? Clearly someone understands what I don’t understand and what we don’t understand, its the nature of something new. The institutional investment here is very important & its actually very impressive
In other news, Ripple CEO Brad Garlinghouse predicts RippleNet volume will grow by 600% with the Ripple customer list growing by 30-40% during 2020.
In an interview with Fortune, Brad said he expects the company to grow exponentially during the course of 2020 with new payment corridors in places like India.
Brad furthered that Ripple’s customers such as MoneyGram now leverage XRP for 15% of their transfers into Mexico, hence they no longer need to pre-fund accounts in local banks to execute transactions. The CEO added that a substantial volume of XRP is being used for facilitating transfers of Australian dollars and Philippine pesos, and the testing of Brazilian real for transfer is also going on