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February 13, 2016 12:07 AM ET

IT Services

Company Overview of Ripple Labs Inc.

Company Overview

Ripple Labs Inc. provides Ripple protocol, an open-source distributed payment network that enables payments to merchants, consumers, and developers. Its payment protocol transforms payments to work like communications. The company was formerly known as OpenCoin, Inc. and changed its name to Ripple Labs Inc. on September 26, 2013. Ripple Labs Inc. was founded in 2012 and is based in San Francisco, California.

300 Montgomery Street

12th Floor

San Francisco, CA 94104

United States

Founded in 2012

Key Executives for Ripple Labs Inc.

Co-Founder and Chief Executive Officer
Age: 54
Chief Financial Officer
Chief Operating Officer
Age: 44
Chief Technology Officer
Compensation as of Fiscal Year 2015.

Ripple Labs Inc. Key Developments

Ripple Labs Inc. Forms Joint Venture with SBI Holdings, Inc

Ripple Labs, Inc. announced that it has formed a joint venture with SBI Holdings, Inc., to drive the adoption of its distributed ledger technology for cross-border payments across Asian markets. The JV company, SBI Ripple Asia will build an engineering and sales force across Japan, China, Taiwan, Korea, and Asian countries to sell and install Ripple's technology stack for cross-border payments at banks across the region.

CGI Announces New Teaming Agreement with Ripple

CGI announced a new teaming agreement with Ripple to bring innovative distributed financial technology capabilities to the CGI payments solutions portfolio. The intent of the teaming agreement is to add complementary functionality to the CGI payments solutions portfolio by integrating Ripple's distributed financial technologies.

Ripple Labs Names Bret Allenbach as CFO

Ripple Labs Inc. has appointed Bret Allenbach as the company's Chief Financial Officer. As the former CFO of Payments and Risk for PayPal and VP of Finance at Visa, the company noted, Allenbach is a 20-year industry veteran with deep experience scaling innovative technology companies through high growth stages.

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