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- According to the latest report CB Insights, the global market analysis firm, it is noted that Ripple (XRP) is now one of the largest financial technology companies in the world
- Data Shows Compiled Report Of Largest Venture Capital-Backed Financial Technology Firms, Worth More Than $ 1 Billion
Ripples among the 66 largest fintech companies in the world
The recent CB Insights report revealed that Ripple (XRP) is now one of the largest fintech companies in the world. The analytic report released the name of sixty-six financial technology unicorns around the world, and on the list, Ripple ranks fourth. According to the report, San Francisco-based Ripple has a current valuation of $ 10 billion. However, the company is still behind San Francisco-based Stripe with a valuation of $ 36 billion, Lufax of Shanghai with a valuation of $ 39.4 billion and Paytm One 97 of India with a valuation of 16 billion. dollars.
Ripple’s wallet is worth a fortune
At the end of 2019, Ripple raised approximately $ 200 million via the Series C funding round. The funding round was led by Route 66 ventures, Tetragon, and Strategic Business Innovator Group. The same year Ripple also bought the stake in the MoneyGram money transfer platform worth $ 50 million. Using technologies, Ripple wants to transfer money between payment limits, as it is made up of more than three hundred users. However, we can conclude that the company’s digital asset portfolio is worth a fortune.
Necessity to maintain positive cash flow
According to Brad Garlinghouse, Ripple’s chief executive, the sale of his XRP token is a vital part of keeping the company’s cash flow positive. Ripple owns more than half of the total supply of the XRP crypto token. According to data from CoinMarketCap, we observed that the overall market capitalization of the XRP token at press time is around $ 11.6 million, so selling XRP is a vital part of the company. Garlinghouse also said the sale of XRP is the only source. Without selling it, the company would not be profitable nor would it maintain a positive cash flow.
It is noted that in the third quarter of this year, Ripple sold with $ 81.39 million of XRP to support the company’s On-Demand Liquidity cryptocurrency-based remittance platform. With this to increase the liquidity of the product, Ripple bought $ 45.55 million worth of XRP tokens.
