Ripple Makes CNBC’s Disruptor 50 List As the Only Blockchain-related FirmThe eighth annual Disruptor 50 list published by CNBC today has named San Francisco-based blockchain startup, Ripple, as one of the few privately-held companies leading accelerated development in their respective industries.The latest prominently features companies valued at a combined $277 billion market cap with Ripple making the cut, alongside other prestigious fintech companies such as Stripe, Coursera, and SoFi.Ripple alone is valued at $10 billion after a successful Series C round in December with SBI Holdings, Tetragon, and Route 66 Ventures leading a $200 million investment in the startup.
Solving Unique Challenges With Blockchain
Ripple made the Disruptor 50 list, thanks to its use of blockchain technology to modernize the global payment infrastructure. With its XRP cryptocurrency, the company solves the global remittances problem by allowing financial institutions and individuals to move money around the world at almost no cost and at the speed of light.A recent partnership with MoneyGram to use its On-Demand Liquidity (ODL) solution for remittances, evidently contributed to Ripple making the Disruptor 50 list for the first time since it launched in 2012. MoneyGram reportedly now uses ODL to move 10% of its transaction volume for remittances between the U.S and Mexico.The startup led by Brad Garlinghouse also counts among its ranks 300 partners, including other prestigious banking partners such as American Express and Bank Santander. These institutions are also exploring Ripple’s cross-border solutions and could settle transactions many times faster than they can when using traditional payment tools.Meanwhile, it is worth noting that Ripple’s success on the partnership front has had little to no effect on XRP, the project’s native token. After trading at an all-time high above $3 per coin in late 2017, the price of the cryptocurrency has since settled around $0.20.However, a place as the third-largest cryptocurrency by market cap suggests that XRP is still a preferred choice for many crypto investors who perhaps believe that Ripple’s continued growth and accolades will bring them good fortune.
Written By W. Michael, Global News Correspondent, Contributor CNIR
