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About
Summary
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Founded: 2012
Headquarters: San Francisco, California
ripple.com
Ripple is an Internet protocol that interconnects all the world's disparate
financial systems to power the secure transfer of funds in any currency in real
time. Ripple provides a frictionless experience to send money globally using the
power of blockchain.
ripple.com
Key Facts
 * Ripple’s RippleNet payments network utilizes the XRP Ledger blockchain to
   clear and settle cross-border payments in a fraction of the time and cost
   required by legacy payment systems.
 * The XRP cryptocurrency that is native to the XRP Ledger is used as a value
   transfer medium to effect near-instantaneous conversion and transfer of
   foreign currencies between counterparties on RippleNet.
 * Ripple provides three different solutions for banks, payment providers and
   corporates: xCurrent (processes cross-border payments using fiat currencies),
   xRapid (offers on-demand liquidity using Ripple’s digital asset called XRP),
   and xVia (a standard interface that allows corporates to pay its employees).
 * Using xCurrent, banks are able to save 60% of the total cost per payment as
   SWIFT fees are eliminated.
 * xRapid allows banks to reduce their international payment infrastructure
   costs by 42%.
 * In December 2020, the SEC sued Ripple and two of its top executives for seven
   years of distributions of the cryptocurrency XRP, which the agency labeled as
   illegal unregistered securities trades – Ripple is disputing all allegations
   by claiming XRP is a commodity and therefore outside the SEC’s reach.
 * American Express and Santander have partnered with Ripple to speed up
   cross-border payments between the U.S. and the U.K. by using blockchain
   technology. Bank of America also recently partnered with RippleNet
   technology.
 * CEO of Ripple, Brad Garlinghouse, recently stated the company could go public
   if, and when, it resolves its lawsuit with the SEC. “The likelihood that
   Ripple is a public company is very high at some point,” Garlinghouse told
   CoinDesk’s Nikhilesh De.
 * In January 2022, Ripple announced a $200 million Series C share buyback for
   all Series C shares originally issued to Tetragon Financial Group, SBI
   Holdings and Route 66 Ventures in December 2019, a decision that boosted
   Ripple’s valuation to a record-high of $15 billion. According to The Block,
   Ripple said, "The buyback places Ripple’s new valuation at $15 billion and
   reflects Ripple’s strong position in the market and global company momentum -
   Ripple’s global business has grown exponentially and 2021 was the company’s
   best year to date." Ripple mentioned that its RippleNet platform has seen
   transactions double in 2021, and it also signed Bhutan and Palau as CBDC
   clients.
 * According to CoinTelegraph, Garlinghouse also shared optimism for the future
   of RippleNet and Ripple X, the latter of which is posed to enhance the
   utility of the XRP Ledger in an array of emerging sectors, including
   nonfungible tokens, central bank digital currencies, as well as
   interoperable, multichain functionalities, among others. Ripple also
   mentioned that the company is cash flow positive and has more than $1 billion
   in cash on the balance sheet.
 * Ripple also experienced its "best hiring year in 2021" and is now seeking to
   onboard "hundreds of global employees this year" to support the already
   existing 500-employee workforce, according to CoinTelegraph.

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for any securities. Rainmaker Securities, LLC, member FINRA/SIPC.