By Tobi Loba
The US-based cross-border payment behemoth, Ripple, has recently received special recognition from an America’s leading business magazine Inc., as one of the fastest-growing companies in the United States.
In the past, Ripple had made the list of the performance and reliability rankings conducted by highly reputable platforms. For instance, the San Francisco payment firm has been making the list of LinkedIn’s best 50 startups in the United States on a yearly basis, which is the result of Ripple’s commitment to its services.
In the recent ranking released by the popular magazine Inc., Ripple occupies the 123rd position out of 5,000 businesses on the list.
A Significant Growth in the Last Three Years
According to the business magazine Inc., Ripple, the payment giant that oversees the distribution of the digital token XRP, which came to existence in 2012, has grown by 3,039% over the last three years, with the median growth of 165%.
The customers in Ripple’s RippleNet, the network that connects banks and financial institutions, increased to surpass 300 in 2019.
Also in 2019, Ripple’s valuation increased to hit $10 billion after its $200 million Series C funding sponsored by New York-based Tetragon Financial Group.
The 55% of XRP’s total supply belongs to Ripple, and its On-Demand Liquidity (ODL), the product that uses XRP as a bridge currency, gained traction increasingly over the past year. According to the quarterly report released by Ripple, ODL volumes grew 11 times in just a year.
Also, according to the CEO of Ripple, Brad Garlinghouse, over 2 billion transactions with an estimated value of $7 billion have been processed so far on RippleNet network.
Other Highly Ranked Companies on the List
As Ripple topped the list of companies related to blockchain technology, there are a number of private firms that printed notable performances in the financial service department over the years.
On the list, OneTrust, Create Music Group, and Lovell Government Services occupy first, second, and third positions, with a 48,337%, 46,800%, and 40,899% growth respectively.
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