OpenCoin Closes Additional Funding

OpenCoin, the San Francisco, CA-based developer of the Ripple protocol, a virtual currency and distributed open source payments system, closed an additional round of funding.

The amount of the deal remained undisclosed.

Backers included Google Ventures and China-based IDG Capital Partners.

Led by CEO Chris Larsen, OpenCoin develops the Ripple protocol, an open source payments system and a math-based virtual currency that together power the world’s distributed currency exchange.
Ripple builds direct pathways between parties, which allow users to pay in one currency and receive payment in another, including dollars, yen, euros and bitcoins.
The payment system can be used for a wide range of applications, including merchant payments, money transfers, or remittances.



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