Ripple (XRP) has made an announcement in which the company says that it has got an amount of $200 million in Series C funding.

The cross-border blockchain payments firm Ripple says that this move was led by Tetragon (an investment firm) with the help of Japan’s SBI Holdings and Route 66 Ventures.

With the help of this amount, the company aims to boost the adoption of its native token and to grow its ecosystem. And Ripple aims to hire more talent in order to expand its ecosystem and its blockchain network.

The company further says that we are in a strong financial position and our network has customers in over 45 countries. Also, where other companies have slowed down their network growth process, we have boosted it.

As the CEO of the company Ripple Brad Garlinghouse says:

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

Also, RippleNet the company’s payments network has included over 300 customers across the whole world. The company has also made a partnership agreement with MoneyGram recently.

Not only this, but Ripple has also announced to introduce the XRP-incubator ecosystem in order to encourage more development. Along with this incubator, Xpring has released a platform with more services and tools that allow developers to send and receive payments by using Inter-ledger Protocol and XRP Ledger.

This new funding of $200 million will help the company to develop and grow its blockchain network so that it could meet the demands of the modern market and users.