Ripple Emerges In the 28th Spot on CNBC’s 2020 Top 50 Disruptive Companies

CNBC has announced its 8th annual Disruptor top 50 list and the blockchain payments provider – Ripple – has been ranked 28th in the list released on Tuesday.

CNBC stated that the list is meant to identify as well as recognize private enterprises whose solutions and innovations are influencing competition among businesses as well as in the market at a higher rate. CNBC stated:

“The startups [that made] the 2020 Disruptor list are at the epicenter of a world-changing in previously unimaginable ways, turning ideas in cybersecurity, education, health IT, logistics/delivery, fintech, and agriculture into a new wave of billion-dollar businesses.”

Apart from Ripple, renowned crypto-friendly app Robinhood also landed at number 46.

The process involved about 1,355 companies that were considered eligible for nomination back in April. The list was then reduced to 180 startups. CNBC then decided to add an extra evaluation step where firms were required to explain how the COVID-19 pandemic had affected their overall business.

The announcement explained that the majority of those that ended on the list had positive outcomes ranging from increased products, new hires, recent product launches as well as product pivots to aid in dealing with the challenges occasioned by the virus.

Ripple has been on an expansion mission starting from January when the coronavirus crisis began by adding an extra 50 partners from across the globe, with its total number of partners now being 350. The firm is currently working on a payment corridor in Brazil.

Despite the positive news, it seems that the ranking of Ripple on CNBC’s list had little impact on the value of its token, XRP. At the time of publication, XRP’s value had risen by merely 1.81% and was trading at $0.195.

The CNBC announcement also noted that most of the listed companies have already entered the coveted billion-dollar business class. Thirty-six of the businesses are already ‘unicorns,’ meaning that their valuation has reached $1 billion. The 50 companies have so far raised more than $74 billion in venture capital and are cumulatively valued at approximately $277 billion.

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Author: Joseph Kibe

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