Ripple Labs was founded in 2012 (originally as OpenCoin) by Chris Larsen and Jed McCaleb in San Francisco, United States of America (USA) developing the XRP Ledger and associated payment protocols.
Key developments:
- 2012: Founded as OpenCoin
- 2013: Renamed to Ripple Labs
- 2015: Received $50M in Series A funding
- 2020: SEC lawsuit filed
- 2023: Partial court victory in Securities and Exchange Commission (SEC) case
Ownership:
- Privately held company
- CEO: Brad Garlinghouse
- Major investors include:
- SBI Holdings
- Andreessen Horowitz (a16z)
- Google Ventures
- Other venture capital firms
Focus areas:
- Cross-border payment solutions
- Banking infrastructure
- Digital asset technology
- XRP cryptocurrency
- RippleNet payment network
The company has evolved from a cryptocurrency startup to a significant player in global payment infrastructure, though regulatory challenges have impacted its development.