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Ripple provides infrastructure and transaction protocols that enable banks to provide financial settlements at lower costs via a distributed network. This is done by enabling banks to transact directly, instantly, and with the certainty of settlement. The Ripple settlement infrastructure or the Ripple protocol enables two critical functions – a common ledger to connect banks & payment networks and a real-time funds-exchange to settle transactions. Recently, Ripple was selected for the 2019 Forbes FinTech 50 startups list.
Ripple offers plug-and-play products for banks and financial institutions to meet their needs for real-time cross-currency settlement and FX market making. It also provides direct support (consultative, professional services, technical development) to its partner banks and market makers.
Though the revenue model is not disclosed, Ripple could be earning revenue for professional services provided to business partners/clients and from software integration provided to banks/FS firms.
Banking CLIENTS: Standard Chartered
Bank of America Merrill Lynch
Cross River Bank
and Reise Bank.
Integration partners: Accenture
Ripple solutions lower the total cost of settlement by enabling banks to transact directly, instantly, and with the certainty of settlement.
Banks exchange payment and fee information on Ripple before payments execute, minimizing the risk of failure. Funds are settled between Ripple-connected banks in seconds with end-to-end visibility into every transaction.
$5 B in 2016
After the latest round, the company's valuation is at $5 billion. (Sep 2016)
Currently, Ripple's network is being used by 200 customers including the top 15 global banks. (Feb. 2019)
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