Ripple raised $ 200 million as part of its C-Series fundraiser, raising capitalization to $ 10 billion.
We are thrilled to announce our $200M Series C—an investment that marks a record year of company growth. The round was led by Tetragon along with SBI Holdings and @route66ventures. https://t.co/5mkbPWzug6
— Ripple (@Ripple) December 20, 2019
Key investors include Tetragon, SBI, and Route 66 Ventures.
The funds received will be used to promote XRP in the banking system – in particular, the company announced the need to attract financial institutions around the world to use XRP in cross-border payments.
In an interview with Fortune, the head of Ripple Brad Garlinghouse emphasized that in 2020 the company plans to increase its customer base by 30-40 percent (now the platform serves 300 users), as well as increase transaction volumes by 600%.
In addition, Garlinghouse noted that the stablecoin from Facebook and the Chinese crypto yuan will not compete with XRP – in the first case, banks are unlikely to start using Libra everywhere, and in the second, settlements will occur exclusively within the country, and not in an international format.