Ripple Timeline

  • December 22, 2020

    SEC sues Ripple: The Securities and Exchange Commission announced that it had filed an action against Ripple Labs Inc. and two of its executives, who were also significant security holders, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.

  • June 18, 2020

    PayID: Leading technology, finance, and nonprofit companies joined forces to announce the launch of PayID, a universal payment ID to simplify the process of sending and receiving money globally – across any payment network and any currency. Ripple takes the lead in this initiative.

  • May 27, 2020

    RippleNet Cloud: Ripple announces the availability of RippleNet Cloud, a service that allows customers to send and receive payments with one integration and a common Ripple Payment Object (RPO) amongst all customers on RippleNet—meaning less friction and more standardization when customers are ready to scale. 

  • May 5, 2020

    ISO 20022: Ripple joins ISO 20022, an emerging global and open standard for payment messaging, and becomes the first member focused on DLT.

  • April 21, 2020

    Ripple sues YouTube: Ripple takes legal action against YouTube to prompt an industry wide-behavior change and set the expectation of accountability. Ripple claims YouTube should: be more aggressive and proactive in identifying scams, before they’re posted, remove these scams once they are identified and lastly, not to profit from these scams.

  • February 6, 2020

    Patent infringement case dismissed: Cooperative Entertainment, Inc. filed for voluntary dismissal of the lawsuit against Ripple.

  • December 20, 2019

    Series C Funding: Ripple announces $200 million in Series C funding led by Tetragon with participation from SBI Holdings and Route 66 Ventures. 

  • November 6, 2019

    300+ Ripple Customers: Ripple surpassed 300 customers.

  • September 25, 2019

    Ripple hit with patent infringement lawsuit: Cooperative Entertainment Inc., a company based in Raleigh, North Carolina (US), filed a lawsuit for patent infringement against Ripple.

  • September 13, 2019

    XRPL 50 million ledgers: The XRPL hits a milestone after closing its 50 millionth ledger.

  • June 17, 2019

    Ripple invests in MoneyGram: Ripple and Moneygram announce Strategic Partnership. Ripple invests in Moneygram and Moneygram to use ODL.

  • January 8, 2019

    200+ Ripple Customers: More than 200 customers signed up for RippleNet

  • October 1, 2018

    On-Demand Liquidity live: RippleNet provides on-demand liquidity to financial institutions for cross-border payments using the digital asset XRP. xRapid (now known as ODL), the Ripple product powering these transactions, is commercially available and moves into production with multiple customers.

  • September 11, 2018

    Ripple - R3 settle: The parties announce that they have reached a settlement of all outstanding litigation between them. The terms of the agreement remain confidential.

  • August 22, 2018

    Coffey drops lawsuit: Ryan Coffey voluntarily dismisses his lawsuit against Ripple.

  • August 14, 2018

    XRPL Decentralization: Ripple controls less than 50% of the XRP Ledger's Unique Node List.

  • June 8, 2018

    Vladi Zakinov sues Ripple: The second lawsuit against Ripple, later gets consolidated with Avner Greenwald, David Oconer, and Bradley Sostack, who is named the lead plaintiff.

  • June 4, 2018

    UBRI: Ripple introduces the University Blockchain Research Initiative, a collaboration with top universities around the world to support and accelerate academic research, technical development and innovation in blockchain, cryptocurrency and digital payments.

  • June 1, 2018

    Ryan Coffey sues Ripple: An investor who claimed he lost money buying and selling XRP filed a class action lawsuit against Ripple, alleging that the company violated state and federal securities laws.

  • May 14, 2018

    Xpring: Ripple announces Xpring,  a new initiative that will invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs

  • December 15, 2017

    Ripple escrow: Ripple locks 55 billion XRP into escrow. Ripple will be able to release a total of one billion XRP each month over the next 55 months.

  • October 10, 2017

    100+ Ripple customers: More than 100 financial institutions — across banks, payments providers and more — use the power of Ripple’s blockchain technology.

  • September 8, 2017

    R3 and Ripple sue each other: R3 sued Ripple for specific performance of an option agreement in which Ripple agreed to sell up to five billion XRPs for a price of $.0085. Ripple countersued, claiming that R3 reneged on a number of contractual promises.

  • September 23, 2016

    RippleNet Committee: Ripple announces the creation of the first interbank group for global payments based on distributed financial technology, the Global Payments Steering Group (GPSG), later renamed to RippleNet Committee.

  • September 15, 2016

    Series B Funding: Ripple raised $55 million in funding in a round lead by Japan’s leading online retail stock-brokering company, SBI Holdings. SBI acquired a 10.5% stake in Ripple.

  • June 13, 2016

    BitLicense: Ripple obtained a virtual currency license from the New York State Department of Financial Services, making it the fourth company with a BitLicense.

  • May 18, 2016

    SBI Ripple Asia: Ripple and SBI Holdings establish SBI Ripple Asia Co., Ltd. 

  • October 6, 2015

    Interledger Protocol (ILP): Ripple introduces the Interledger Protocol (ILP) for efficient payments across payment networks. ILP becomes an open public protocol for payments, with W3C - the body that develops the standards for the internet - taking the lead.

  • October 2015

    Ripple: In October 2015, the company simplified its name to Ripple.

  • May 18, 2015

    Series A Funding: Ripple Labs, Inc. raises $28 million from IDG Capital Partners, CME Group, Seagate, and others.

  • May 5, 2015

    FinCEN penalty: Ripple received US$700,000 civil money penalty from U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) for “willful violation of the Bank Secrecy Act by acting as a money services business without registering with FinCEN.”

  • November 12, 2013

    Seed Round: Ripple Labs, Inc. completes Seed funding round 

  • September 26, 2013

    Ripple Labs, Inc.: OpenCoin officially changed its name to Ripple Labs, Inc.

  • 2013

    JedMcCaleb Leaves Ripple: After a falling out, Jed McCaleb left Ripple in 2013

  • May 14, 2013

    Angel funding round: OpenCoin announced that it had closed a second round of angel funding.

  • April 11, 2013

    Angel funding round: OpenCoin announced it had closed an angel round of funding with several venture capital firms.

  • April 3, 2013

    SimpleHoney: OpenCoin acquired SimpleHoney to help it popularize virtual currencies and make them easier for average users.

  • December 2012

    The XRPL goes live: The XRP Ledger began transacting in December 2012.

  • September 2012

    Opencoin: Chris Larsen and Jed McCaleb co-founded the corporation OpenCoin. OpenCoin began development of the ripple protocol (RTXP) and the Ripple payment and exchange network.

  • June 2, 2012

    XRP created: Arthur Britto created the 100 billion XRP (then called "XNS").

  • October 14, 2011

    XRPL First Commit: Jed McCaleb pushed the first commit for the XRPL validator. Jed McCaleb, David Schwartz and Arthur Britto created the XRP Ledger.

  • 2004

    Ripplepay: Ripple was first idealized in 2004 by Ryan Fugger, who developed the first prototype of Ripple as a decentralized digital monetary system (RipplePay).