ripple is a blockchain based digital payment company that has created a network and protocol that uses the cryptocurrency xrp and the xrp ledger ripple s main focus is as a payment settlement asset exchange and remittance system similar to the swift system for international money and security transfers used by banks and financial intermediaries dealing across currencies 
ripple s products serve as a sort of temporary global settlement layer for businesses and individuals ripple s industryripple operates in the financial technology industry providing blockchain and cryptocurrency cross border payment crypto liquidity and central bank digital currency services its platforms use the xrp ledger and its native token xrp in its services ripple is unique in this industry as it created the first financial services platform and network that accesses and uses blockchain and cryptocurrency for enterprises it has developed products that provide liquidity and uses cryptocurrency and a bridge currency to speed up international transactions and reduce costs additionally ripple has helped countries create their own central bank digital currencies cbdcs through its ripple cbdc platform ripple s fundraising and financialssince 2012 ripple has had 14 fund raising rounds raising a total of 293 8 million the most recent backers include uday kumar bangalore shivaraman the k fund and azure ventures group 1the company s most recent valuation was over 11 billion which includes a rumored 285 million stock repurchase in 2024 2history and leadershipripple was founded in 2012 by chris larsen david schwartz author britto and jed mccaleb after work began on the xrp ledger its original name was opencoin but it quickly went through a series of name changes until finally becoming ripple founders ripple s current leadership is recent developmentsripple has been expanding its capabilities by acquiring companies involved in cryptocurrency and technology that complements it in 2024 and 2023 it acquired standard custody trust metaco crypto custody services providers these acquisitions will likely help ripple with its plans to offer crypto liquidity services to institutions in addition to institutional decentralized finance solutions in 2020 ripple was sued by the securities and exchange commission the commission alleged the business had sold unregistered securities in its fundraising activities in 2023 judge analisa torres decided that xrp was not a security when sold on exchanges but was a security when sold to institutional investors the sec dropped all charges against chris larsen and brad garlinghouse but continued to insist on fining ripple nearly 2 billion which ripple contested 3did ripple win the lawsuit ripple scored some victories in its defense against the securities and exchange commission but lost regarding the treatment sales of xrp to institutional customers 