Ripple

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Ripple

Ripple is a blockchain-based fintech company that builds payment infrastructure and tools for cross-border money movement. It develops products that use the XRP Ledger and the native token XRP to provide liquidity, speed up settlement, and lower costs for international transactions. Ripple also offers services for institutions and central banks, including support for central bank digital currency (CBDC) projects.

Key takeaways

  • Ripple provides cross-border payment, crypto liquidity, and CBDC-related services built around the XRP Ledger and XRP.
  • The company has raised capital across multiple rounds and has been valued at over $11 billion.
  • Ripple faced a landmark regulatory suit with the U.S. Securities and Exchange Commission; parts of the case were resolved in Ripple’s favor, and final fines were settled in 2024.
  • In January 2025 Ripple launched RLUSD, a U.S. dollar–backed stablecoin approved by the New York Department of Financial Services.
  • RLUSD is a separate asset from XRP and is fully backed by cash and cash equivalents at a 1:1 ratio.

What Ripple does

Ripple’s core focus is enabling faster, lower-cost cross-border payments by:
* Using the XRP Ledger and XRP as a bridge currency and settlement layer to provide on-demand liquidity.
* Offering institutional crypto liquidity services and custody-related solutions (enhanced by acquisitions).
* Assisting central banks with CBDC exploration and deployment through its Ripple CBDC platform.
* Providing enterprise-facing products so businesses can access blockchain benefits without building or maintaining their own blockchain infrastructure.

Fundraising and financials

  • Since 2012, Ripple has completed 14 fundraising rounds, raising about $293.8 million.
  • Recent investors include Uday Kumar Bangalore Shivaraman, The K Fund, and Azure Ventures Group.
  • The company’s reported valuation has exceeded $11 billion; reports in 2024 referenced a $285 million stock repurchase tied to that valuation.

History and leadership

  • Founded in 2012 by Chris Larsen, David Schwartz, Jed McCaleb, and Arthur Britto (originally named OpenCoin), Ripple evolved into one of the first companies to integrate cryptocurrency and blockchain into enterprise financial services.
  • Current senior leadership:
  • CEO: Brad Garlinghouse
  • CTO: David Schwartz
  • President: Monica Long
  • CFO: Jon Bilich
  • Ripple contributed to the creation of the XRP Ledger and XRP but does not claim exclusive ownership or sole control of the ledger or the cryptocurrency.

Recent developments

  • Strategic acquisitions: In 2023–2024 Ripple acquired custody-focused firms such as Metaco and Standard Custody & Trust to bolster institutional custody and liquidity offerings.
  • Stablecoin launch: RLUSD, a dollar-backed stablecoin, received New York Department of Financial Services approval in January 2025 and is listed on multiple exchanges and platforms.
  • Exchange partnerships: Ripple announced distribution and exchange partnerships to make RLUSD broadly available.

Regulatory and legal background

  • In 2020 the U.S. Securities and Exchange Commission sued Ripple, alleging unregistered securities sales.
  • In 2023 Judge Analisa Torres ruled that XRP was not a security when sold on exchanges but could be considered a security in certain institutional sales. The SEC dropped charges against individual executives but continued claims against the company.
  • In August 2024 Ripple was ordered to pay $125 million to finalize aspects of the case.

RLUSD stablecoin

  • RLUSD is a fully backed stablecoin pegged 1:1 to the U.S. dollar and backed by cash and cash equivalents.
  • RLUSD is distinct from XRP and does not use XRP in its mechanism.
  • Available on major global exchanges and platforms including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, Sologenic, and Bullish.

How to access Ripple products

  • XRP is tradable on many cryptocurrency exchanges (subject to regional regulatory availability).
  • RLUSD can be purchased on listed exchanges and platforms where it is supported.
  • Institutions can engage with Ripple for liquidity, settlement solutions, custody partnerships, and CBDC support.

Outlook

Ripple has positioned itself as a bridge between traditional finance and blockchain technology for cross-border payments and institutional crypto services. Its future depends on continued demand for faster, lower-cost international settlement, regulatory clarity, and adoption of its products (including RLUSD) by enterprises and financial institutions.

Bottom line

Ripple is an early and influential fintech player that leverages the XRP Ledger to offer payment settlement, liquidity, and CBDC-related services. While it has navigated significant regulatory challenges, recent strategic acquisitions and the launch of a regulated U.S. dollar stablecoin mark notable steps in expanding its institutional offerings.