Ripple, the US-based blockchain technology firm, has achieved a significant milestone by ranking among the top 40 global digital payment companies, according to CNBC’s inaugural ranking of 200 Global fintech companies. The evaluation, conducted in collaboration with Statista, involved the meticulous assessment of over 1,500 firms across nine segments within the digital payments industry, which boasts a staggering valuation of $54 trillion and promises further growth.

The recognition of Ripple among industry giants like Tencent and Paypal marks a notable achievement for the company, and its President, Monica Long, expressed immense pride in securing a spot on CNBC’s World’s Top Fintech Companies ranking. Notably, Ripple’s success stands out even more as it represents one of the few honoured crypto companies in the esteemed list.

The comprehensive evaluation by Statista analyzed vital performance indicators, including revenue, user numbers, and total funding raised, to identify the most influential players in the fintech sector. Alongside Ripple, the list features other prominent names in the digital payments space, such as Alipay, the Chinese mobile wallet, and tech giant Tencent. Notably, crypto exchanges like Binance, Coinbase, and BitMart were recognized in the Digital Assets category.

The report also sheds light on the buy now, pay later sector, which faced significant pressure amid concerns over declining consumer spending in the face of rising inflation. However, companies like Klarna from Sweden, Affirm from the US, and Afterpay from Australia emerged as beacons of hope for individuals seeking flexible payment options.

The findings of CNBC’s research emphasize the immense potential and influence of the digital payments industry, and as digital adoption continues to spread worldwide, the sector is poised for even greater growth in the future. With a diverse mix of established players and promising startups reshaping the landscape of financial services, the global fintech arena remains dynamic and exciting.