Ripple Secures $55M in Funding From Legacy Institutions
San Francisco-based Ripple announced it has received $55 million in a Series B funding round. The capital injection makes the startup one of the largest funded blockchain-based projects in the industry. $55 Million Gives Ripple Labs ‘Tons of Runway’. The permissioned blockchain has continued to make progress since its current incarnation launched in....
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A report commissioned by secretive distributed ledger consulting group R3CEV and authored by bitcoin developer Peter Todd has raised questions about the ability of the Ripple protocol to serve the needs of global financial institutions in its current iteration. The release notably comes at a time when Ripple Labs, the corporate entity overseeing the network, has been increasingly attracting the attention of legacy financial institutions interested in bitcoin and the wider blockchain ecosystem. Ripple Labs has raised $37m to date, and partnered with Commonwealth Bank, Fidor Bank and Western....
Thursday, Blockchain company Ripple announced that it had raised $55 mln in funding. Accenture Ventures, SCB Digital Ventures, the venture arm of Siam Commercial Bank and Santander Innoventures are just a few of the investors who participated in the Series B funding. Additionally, Ripple has secured partnerships with major banks, including Standard Chartered, BMO Financial Group, and Shanghai Huarui Bank. In the near future Ripple plans to partner with even more banks, which are planned to use the service it provides to improve cross-border payments. Overall, Ripple has received over $93....
Bitcoin is gaining a foothold in European countries as of late. Multiple Bitcoin exchanges are either expanding to Europe or are securing funding to expand existing operations. The latest Bitcoin exchange to secure a round of seed funding is Cryex, based in Sweden. Cryex Secures $10m in Funding. The main goal of Cryex is to build a bridge between financial markets and the blockchain economy. Several companies are trying to break ground in this area, yet there are many different ways to pursue the goal. Cryex aims to utilize its team’s collective experience to provide quality financial....
Ripple Labs is on the lookout for developers and entrepreneurs alike this week. The Ripple Accelerator, an incubator designed to help companies using the Ripple protocol, opened in San Francisco. And Ripple Labs, the firm behind the open-source digital payment protocol, has launched a developer offensive to encourage third-party apps and services to support it. The Ripple Accelerator is designed as an independent entity, not influenced by Ripple Labs. It is operated by CrossCoin Ventures, a separate group of four partners, two of whom run the Menlo Incubator. However, it is located in the....
1. What is Ripple? Ripple is the name for both a digital currency (XRP) and an open payment network within which that currency is transferred. It is a distributed, open-source payments system that's still in beta. The goal of the ripple system, according to its website, is to enable people to break free of the "walled gardens" of financial networks - ie, credit cards, banks, PayPal and other institutions that restrict access with fees, charges for currency exchanges and processing delays. 2. What does Ripple do? According to is OpenCoin, the company behind ripple, the currency addresses....