Ripple grabs $55m from blockchain-curious banks

The blockchain continues its steady shift into mainstream banking with startup Ripple adding seven more major financial institutions.

It’s also raised $55m in a new funding round that saw investment from some of its banking clients.

These included Santander through its InnoVentures arm, CIBC World Markets’s Accenture Technology Ventures, futures exchange CME Group and Standard Chartered Bank.

SCB Digital Ventures and Venture 51 also participated in the Series B round that brings Ripple’s total funding to more than $93.5m.

The company develops enterprise-focused blockchain technology to facilitate transactions such as real-time international payments.

It’s list of banking clients now includes 15 of the top 50 global banks as more traditional institutions look to experiment with distributed ledger technology.

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