Blockchain start-up Ripple says it's raised a $200 million investment round, lifting its valuation to a huge $10 billion.

The fundraising was led by New York investment company Tetragon, Ripple said Friday, while Japan's SBI Holdings and Virginia-based venture capital firm Route 66 Ventures also invested.

Founded in 2012, Ripple rose to fame in late 2017 as the value of XRP, a cryptocurrency used by the firm, skyrocketed in value alongside a multitude of other virtual coins.

The company uses XRP to facilitate cross-border transactions for its network of financial institutions, while it also employs an interbank messaging system — think of it as a blockchain-based alternative to Swift — that's used by banks to send money around the world.

"We are in a strong financial position to execute against our vision," said Ripple CEO Brad Garlinghouse in a statement. "As others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019."