Startup Spotlight: Who Is Ripple?

We take a look into the global payments platform, Ripple, who appeared in our list of the top ten technology startups, in this month's edition.

Business Overview:

Today's global payments infrastructure has more in common with the outdated postal system than this generation’s internet. Recognizing this friction in payments, the company’s founders established Ripple with the idea of using blockchain technology and digital assets to enable financial institutions to send money across borders, instantly, reliably and for fractions of a penny.

This unification of the underlying infrastructure that ties institutions and providers together not only helps its customers grow their business but also it helps enable the world to move money like information moves today.

What makes Ripple unique?

• Real customers, real products

Ripple is the only enterprise blockchain company today with products in commercial use. Ripple’s global payments network includes over 300 customers across 40+ countries and six continents.

• Changing the financial system from within

We are working with regulators, governments, and central banks, not against them, to improve the way the world moves money.

• The best digital asset built for payments

While all the financial institutions on the network enjoy faster, lower-cost global payments, those who use the digital asset XRP to source liquidity can do so in seconds. XRP is quicker, less costly and more scalable than any other digital asset.

RippleNet:

Too often, global payments are costly, unreliable and slow. The underlying systems are fragmented and complex.

RippleNet offers the most advanced blockchain technology for global payments—making it easy for financial institutions to reach a trusted, growing network of 300+ providers across 40+ countries and six continents.

With RippleNet, Santander launched the world’s first mobile application for cross-border payments, One Pay FX.

“Customers who were not doing international transfers are now using the service, customers who were using international transfer are now doing it more, and customers who had gone to use fintech competition have come back because of the One Pay offering.”

Cedric Menager, CEO of One Pay FX, Santander’s mobile app powered by RippleNet

Find out more about Ripple, here.