Ripple just announced they raised $ 200 mil. in a series C financing round from Tetragon, SBI Holdings and Route 66 Ventures raising the company valuation to a record $ 10 billion Euros.
Their cryptocurrency XRP raised 3% after the announcement to $ 0,19, much below the record of $ 3 from January 2018.
The company has more than 300 corporate clients around the world and concluded a strategic partnership with Money Gram.
Ripple is using blockchain technology and digital assets to enable financial institutions to make international financial transactions instantly and extremely cheap compared with the current banking system.
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