Competitor Profile: Ripple
Powered by ![]()
All the vital news, analysis, and commentary curated by our industry experts.
Ripple offers a global real-time payment system that enables banks and financial institutions around the world to transact cross-border via RippleNet, a decentralized global network of banks and payment providers. The organizations in the network use Ripple’s distributed ledger technology (DLT), which provides real-time clearing and settlement of financial transactions.
In addition to cross-border transfers, Ripple enables trading on its cryptocurrency, XRP, which is now listed on 60 digital asset exchanges globally, including Bitstamp, Kraken, Coinone, Bitso, and Coincheck.
Ripple eliminates the need for financial institutions to maintain nostro accounts, where a domestic bank holds a foreign account denominated in foreign currency in order to enable cross-currency settlement. Ripple’s XRP account instead allows customers to make payments with any other currency. This results in faster fund transfers, as Ripple can process transactions in four seconds, compared to the three-to-five days via traditional methods.
Launched in 2012 as OpenCoin, Ripple has raised around $93m since its inception from investors such as Accenture, CME Ventures, Google Ventures, SBI Group, Santander InnoVentures, and Seagate.
The report provides information and insights into alternative payment solution Ripple including –
– Detailed insight into its business
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on its performance, including its revenue model
– The company's important events and milestones
Scope
– In September 2012, Ripple founded as OpenCoin.
– In February 2013, introduced digital currency XRP (also known as Ripple).
– Ripple offers a global real-time cross-border payment system that enables banks and financial institutions around the world to connect with each other via its RippleNet network and process cross-border payments instantly.
– In April 2019, partners with RationalFX, a UK-based foreign exchange and cross-border payment company.
Reasons to Buy
– Gain insights into Ripple's business operations and key events.
– Gain insights into its product portfolio and revenue model.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
OpenCoin
Ripple Labs
Bitstamp
Kraken
Coinone
Bitso
Coincheck
Accenture
CME Ventures
Google Ventures
SBI Group
Santander InnoVentures
Seagate
Fidor Bank
Cross River Bank
CBW Bank
SBI Holdings
Santander
Mitsubishi UFJ Financial Group
MoneyGram
Coinone Transfer
Saudi British Bank
Euro Exim Bank
RationalFX
Coinbase
Stellar
TransferWise
MercuryFX
Cuallix
Catalyst Corporate Federal Credit Union
FairFX
Exchange4Free
UniPAY
MoneyMatch
AstroPay
UniCredit
UBS
ReiseBank
CIBC
National Bank of Abu Dhabi
ATB Financial
Standard Chartered
National Australia Bank
Mizuho Financial Group
BMO Financial Group
Siam Commercial Bank
Shanghai Huarui Bank
Bank of America Merrill Lynch
Santander
UniCredit
Standard Chartered
Westpac Banking Corporation
Royal Bank of Canada
UAE Exchange
Itaú Unibanco
Beetech
IndusInd Bank
InstaReM
LianLian International
TransferGo
CIMB
National Bank of Kuwait
Table of Contents
Frequently asked questions
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Related reports
View more Financial Services reports