Ripple, the blockchain-based digital payments firm, said it raised $200 million in Series C funds led by Tetragon, with participation from SBI Holdings and Route 66 Ventures. 

The funding will be used to hire additional talent and to further grow its recent payments initiatives, including Xspring, an open developer platform for money. 

"We are in a strong financial position to execute against our vision," CEO Brad Garlinghouse, said in a blogpost. "As others have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019."

Last month, the company announced that its RippleNet platform, a global network of banks, financial institutions and payments firms, had grown to more than 300 customers worldwide, and in June, Ripple entered into a partnership with MoneyGram.