Ripple eliminates the need for financial institutions to maintain nostro accounts, where a domestic bank holds a foreign account denominated in foreign currency in order to enable cross-currency settlement. Ripple’s XRP account instead allows customers to make payments with any currency. This results in faster fund transfers, as Ripple can process transactions in three to five seconds - compared to three to five days via traditional methods.
Launched in September 2012 as OpenCoin, Ripple has raised $293.8 million since its inception from investors such as Accenture, CME Ventures, Google Ventures, SBI Group, Mouro Capital, and Seagate.
The report provides information and insights into Ripple including:
- Detailed insight into its business
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its performance
- The company's important events and milestones
- In September 2012, Ripple founded as OpenCoin.
- In September 2013, OpenCoin rebranded as Ripple Labs.
- In October 2015, Ripple Labs rebranded as Ripple.
- In July 2021, Ripple announced its investment in Mintable, a non-fungible token marketplace.
- In February 2022, Ripple partnered with payment services provider Modulr to offer cross-border payments in the UK and Europe using RippleNet.
- In May 2023, Ripple expanded its services with the acquisition of Switzerland-based crypto custody and tokenization firm Metaco.
- In May 2023, Ripple launched Ripple CBDC Platform, enabling central banks and governments to issue their own CBDCs and stablecoins.
Reasons to Buy
- Gain insights into Ripple's business operations and key events.
- Gain insights into its product portfolio.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Table of Contents
- Executive Summary
- Performance Highlights
- Products and Services
- Significant Events
- Client Base
- Partner Base
A selection of companies mentioned in this report includes: