Despite rumors of an upcoming IPO, Ripple CEO Brad Garlinghouse has shot down the possibility in a recent interview. Instead, he revealed the company’s plans to acquire blockchain infrastructure companies and continue organic growth.
Garlinghouse’s statement underscores Ripple’s ongoing efforts to develop its brand and expand operations, revenue, and customer base. The company has achieved significant growth through its payment solutions without relying on external funding.
Now, Garlinghouse hints at another growth strategy—acquisitions. According to him, Ripple will be acquiring companies that can complement its existing business and expand its capabilities.
While Garlinghouse did not disclose potential acquisition targets, he mentioned an interest in firms that provide core blockchain infrastructure, suggesting an internal discussion on potential candidates.
This statement also confirms a suggestion made previously by Sonali Basak, Bloomberg’s lead global finance correspondent, who had noted that Ripple is prioritizing acquisitions over launching an IPO. Basak, known for breaking major financial news stories, had also reported on an offer by Ripple to acquire Circle, the U.S. firm that operates the USD Coin (USDC) stablecoin.
The latest development puts to rest the growing speculation about Ripple’s potential IPO in the United States this year. Rumors of the FinTech firm going public had circulated since last year, with several analysts predicting a 2025 launch.
However, Garlinghouse explained a key hurdle—the difficulty for Ripple to go public amid an ongoing legal battle with the SEC. According to the Ripple chief, the SEC might turn down a request for an IPO from the firm embroiled in a lawsuit.
The legal dispute began in December 2020 when the SEC sued Ripple and its former executives, alleging the sale of XRP to U.S. investors without proper registration with the agency.
The lawsuit, now in its fourth year, is nearing conclusion as the parties involved are in the process of negotiating a settlement.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
