Ripple Plans to Explore IPO Possibilities

Ripple, one of the biggest blockchain and crypto solutions providers in the world, is planning to explore the initial public offering (IPO) opportunities after the end of the lawsuit from the US Securities and Exchange Commission (SEC).

Brad Garlinghouse, the Chief Executive Officer of Ripple, told CNBC that the company wants clarity in the US with the SEC. He added that Ripple witnessed strong demand for its products and services across the world.

“I think we want to get certainty and clarity in the United States with the U.S. SEC. You know, I’m hopeful that the SEC will not slow that process down any more than they already have,” Garlinghouse told CNBC during the World Economic Forum in Davos.

“But you know, we certainly are at a point, where that (IPO) is a possibility. And, we’ll look at that once we’re past this lawsuit with the SEC,” the CEO of Ripple added.

The lawsuit against Ripple has been going on for more than 15 months. The blockchain firm is expecting an outcome by the end of this year.

Growth

Despite challenges in the US, Ripple saw consistent growth in the demand for RippleNet and XRP Ledger around the world throughout last year. In 2022, the blockchain company has formed several partnerships to facilitate cross-border payments. Earlier this month, Ripple collaborated with FINCI, an online global money transfer provider based in Lithuania, to assist the business-to-business payments through RippleNet’s on-demand liquidity, a service that leverages XRP for crypto-enabled efficient cross-border payments.

“Our growth is almost all outside the United States. I think that’ll probably persist until we get the clarity and certainty in the U.S. we’ve been seeking,” Garlinghouse explained.

In March 2022, Ripple announced its plan to accelerate XRP Ledger development. For the initiative, the company committed 1 billion XRP.