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Blockchain startup Ripple is now valued at $10 billion | Currency News | Financial and B…

29 Dec Blockchain startup Ripple is now valued at $10 billion | Currency News | Financial and B…

Posted at 01:16h in Cryptocurrency News by

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In this photo illustration of the ripple cryptocurrency 'altcoin' sits arranged for a photograph on April 25, 2018 in London, England. Cryptocurrency markets began to recover this month following a massive crash during the first quarter of 2018, seeing more than $550 billion wiped from the total market capitalisation. (Photo by )Jack Taylor/Getty Images

  • Blockchain firm Ripple raised $200 million in its Series C funding round, the startup announced Friday, bringing its valuation to $10 billion.

  • The funding round was led by New York investment firm Tetragon and will be used to expedite hiring, Ripple said in a statement.

  • The firm rose to fame in 2017 when its XRP cryptocurrency shot up in value alongside most digital coins.

  • XRP rose as much as 4% on the news.

  • Watch XRP trade live here.

Blockchain firm Ripple announced it raised $200 million in its latest investment round, bringing the company’s valuation to $10 billion.

The startup surged to fame in 2017 when its XRP cryptocurrency shot up in value during the digital currency boom. Its Series C funding round was helmed by New York investment firm Tetragon and included backing from Japan-based SBI Holdings and venture capital firm Route 66 Ventures.

“We are in a strong financial position to execute against our vision,” CEO Brad Garlinghouse said in…

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