Crypto news

Ripple hasn’t given up on its IPO idea

Ripple will consider the possibility of an IPO after the completion of a lawsuit with the U.S. Securities and Exchange Commission (SEC). The company’s head Brad Garlinghouse announced this during the World Economic Forum in Davos.

We’re certainly at the stage of development where that [going public] is possible. And we’ll look at the issue as soon as we finish the litigation with the SEC,” Garlinghouse explained.

RippleNet’s combined annual transaction volume on the platform reached a record $15 billion in 2021 due to the popularity of its On-Demand Liquidity (ODL) service. The company noted that the Asia-Pacific region has become “one of the largest contributors to ODL dollar turnover.”

Garlinghaus estimated first-quarter 2022 results at $8 billion and noted that the company continues to grow for the most part outside the U.S. In March, RippleNet began being used for international payments by National Australia Bank and Canadian Imperial Bank of Commerce, some of the largest financial institutions in Australia and Canada, respectively.

Crypto firm Ripple will explore IPO after SEC lawsuit ends, CEO says.

In May, the fintech company announced a partnership with Lithuanian online international money transfer provider FINCI.

I think this will probably continue until we get the clarity and certainty in the U.S. that we’ve been seeking,” Ripple’s head emphasized.

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