Ripple attracted a great deal of venture capital during its inception. The Google-backed altcoin startup managed to pull in upwards of $50 mln from banking institutions, gathering an impressive $90 Mln in total funding. Ripple is unique in that it allows for transacting with any unit of value, from fiat currency to frequent flier miles.
“Ripple provides global financial settlement solutions to enable the world to exchange value like it already exchanges information giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly, instantly and with certainty of settlement,” reads the company’s copy on their official website.
Initially a middling contender, Ripple has gained momentum in the cryptocurrency market, seeing a marked surge earlier this year. In fact, Ripple experienced a 100% increase.
“Ripple provides global financial settlement solutions to enable the world to exchange value like it already exchanges information giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly, instantly and with certainty of settlement,” reads the company’s copy on their official website.
Initially a middling contender, Ripple has gained momentum in the cryptocurrency market, seeing a marked surge earlier this year. In fact, Ripple experienced a 100% increase.