- American business news network CNBC placed the blockchain-powered liquidity provider on a list of “disruptive” companies.
- The piece emphasises Ripple’s partnerships with various other global financial services organisations.
- “It claims to have over 300 financial services customers globally and has signed partnership deals with American Express and Santander,” CNBC said.
The blockchain-based online money transfer service Ripple has been named one of the world’s most disruptive companies by a leading American news service.
Ripple was placed at number 28 on the list, and was described as “a crypto answer to money transfer”.
Ripple has not featured on this list, called the ‘Disruptive 50’, before.
It was described by CNBC as having been valued at $10bn.
In a small piece devoted to Ripple and its successes, CNBC emphasised the speed-related aspects of Ripple’s offer.
“In a world where video can be streamed from the International Space Station, it’s crazy to think that the fastest way to move money from San Francisco to Bangkok is to bring it in a suitcase on a plane,” it said.
“Ripple’s goal is to change all that through the use of blockchain. The San Francisco-based company uses a cryptocurrency called XRP to facilitate cross-border transactions for its network of financial institutions.”
“It also utilites an interbank messaging system that’s used by banks to send money around the world,” it added.
Ripple is one of the fastest-growing fintech businesses on the online money transfer scene.
It works in part by using blockchain to increase liquidity for financial services organisations.
It has various partnerships with firms across the financial industry – a fact that was noted by CNBC.
“It claims to have over 300 financial services customers globally and has signed partnership deals with American Express and Santander,” the piece said.
“Last June it announced a partnership with MoneyGram, one of the world’s largest money-transfer companies.”
In its main list, CNBC shared more information about how the list was compiled.
“In the eighth annual Disruptor 50 list, CNBC identifies private companies whose breakthroughs are influencing business and market competition at an accelerated pace,” it said.
“They are poised to emerge from the coronavirus pandemic with tech platforms that have the power to dominate.”
“The start-ups making the 2020 Disruptor list are at the epicenter of a world changing in previously unimaginable ways, turning ideas in cybersecurity, education, health IT, logistics/delivery, fintech and agriculture into a new wave of billion-dollar businesses,” it added.
Number one on the list was also a fintech firm.
Stripe, a digital payments platform, took the top spot, and was described by CNBC as “unlocking the lockdown’s biggest value”.
“Today thousands of companies, including Amazon, Slack, Glossier, Shopify and Under Armour, use Stripe’s software tools to securely accept payments from anywhere in the world,” it said.
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