Ripple, a Silicon Valley-based blockchain company, has tweeted out news of a major achievement today. This fintech company was ranked in the fifth edition of CB Insights’ Fintech 250. This list is released annually where the private analytics platform compiles the top 250 most promising fintech companies all around the globe.
CB Insights recently announced the winners of the fifth edition of CB Insights Fintech 250. Ripple has received an honorary place on this carefully ranked list and has tweeted about the same.
The award organization mentioned that this year’s list focused on shedding the spotlight on companies aiming to create a safer and more efficient financial ecosystem. These winners are dedicating themselves to making transactions and other financial activities like taking loans, having mobile wallets, investing, and more to be more secure and accessible.
The CB Insights team has considered 12,500 private companies when curating this list. However, they compared metrics such as proprietary Mosaic scores, market potential, business networking, funding, investor profile, team strength, and novelty to sift through the sea of companies. Doing so, allowed them to reduce the list to only 250 noteworthy fintech companies.
Ripple has been focused on building stronger cross-border settlements. Hence, this form of payment has been widely used by many firms to complete these transactions. Both traditional and modern financial firms have been benefitting from Ripple’s RippleNet due to its efficiency and security.
The combined effort of the Ripple team and community has led them to achieve such great heights and be placed among the top 250 fintech companies according to CB Insights. Renowned financial institutions like the National Bank of Australia (NAB) and the Canadian Imperial Bank of Commerce (CIBC) have formed a contract to partner up with Ripple. This has greatly facilitated cheap and speedy transactions across borders.
