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Blockchain firm Ripple raises USD 55 million in series B funding

First Published 16th September 2016

New strategic investors including banks will enable Ripple to accelerate customer adoption.

San Francisco - New investors include Standard Chartered, Accenture Ventures, SCB Digital Ventures, the venture arm of Siam Commercial Bank, and SBI Holdings. Additional investors participating in the round include Santander Innoventures, the venture arms of CME Group and Seagate Technology, and Venture 51.

"Our mission is to make cross-border payments truly efficient for banks and their customers, and in doing so, lay the foundation for an Internet of Value where the world moves money as easily as information," said Ripple CEO & co-founder Chris Larsen.

Existing Ripple investors include GV (Google Ventures), Andreessen Horowitz, IDG Capital Partners, and Jerry Yang's AME Cloud Ventures. Ripple has received a total of over $93 million in funding.

Ripple's network includes 15 of the top 50 global banks, 10 banks in commercial deal phases and over 30 bank pilots completed, among many others also using Ripple's solutions. Ripple has also announced the addition of several new banks to its network.

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