The fourth edition of the coveted list – 2019’s the 50 Most Innovative Fintech Companies, was marked by the show of six cryptocurrency and blockchain oriented companies, including San Francisco-based cross-border payment major Ripple.
The looming crypto winter with all the digital assets struggling in an incessant bearish fever, couldn’t sway Ripple’s dominance in the space.
Talking about the blockchain tech companies on the list, the Forbes blog stated:
“Going forward, the blockchain selections from this year’s Forbes Fintech 50 2019 picks will undoubtedly form some unusual alliances as they evolve past competing against other blockchain startups, to competing in mainstream finance against long-established players.”
Ripple has managed to leverage XRP’s efficiency to bolster the cross-border financial settlement processes. The Forbes report further states that Ripple is all set to supersede SWIFT, the global messaging service provider.
Ripple secured a massive $94 million in a funding round led by IDG Capital, SBI Investment, Santander InnoVentures, and others recently. The payment network is now worth $5 billion and has 200 RippleNet customers, including Bank of America and American Express under its hood. Furthermore, many of the banks are ready to use Ripple’s payment solution, xRapid, which would have a huge impact on the cryptocurrency XRP.
Moreover, Ripple’s strategic partnership with R3 and Japan’s SBI Holdings has further made Ripple the leading payments company in the cryptocurrency and blockchain space
The other crypto ventures that made it to the list are:
Axoni, the New York-headquartered firm which renders distributed ledger tech and capital market services for various financial establishments. This capital market tech firm utilizes the blockchain platform to provide solutions to its clients. The latest funding round was even visited by Goldman Sachs, JPMorgan and others, where the company scored $59 million.
Bitfury, the Netherlands-based full-service blockchain tech firm providing hardware and software solutions to safely propagate assets across the network, has also made it to the list along with Boston-based global crypto finance firm, Circle. The other two firms to surface in the Forbes list were New York-based cryptocurrency exchange Gemini and California-based exchange forum Coinbase.
A Twitter user, @DupelessisTjaard, commented:
“@izakaminska : Not too shabby for a company with…how did you put it?.. “Bad business model and based on bad code” Did I get that right ? Great work @nbougalis”