Ripple President Monica Long said that the company will not conduct public placement of shares on the Stock Exchange (IPO). Instead, it is focused on international payments and blockchain integration into the financial sector.
In an interview with CNBC channel, Monica Long said that Ripple does not see the need to become a public company. Now Ripple has a lot of liquidity, billions of dollars are on its balance sheet. Therefore, the company is inclined to the acquisition strategy. Ripple is actively studying the possibilities of business development due to strategic investments, and not attracting capital through an IPO.
“XRP cryptocurrency performs many different roles. It is used in the XRP Ledger (XRPL) blockchain as an internal asset that is needed to pay for the fees for the commission and the minimum backup account. Given that the number of users is increasing, the number of solutions created on the XRP Ledger is growing. This asset will always be needed, ”Long said.
In 2024, Ripple Director General of Brad Garlinghaus said that the company can consider the possibility of public listing after the completion of the legal litigation with the US Securities and Exchange Commission (Sec). Earlier, the regulator accused Ripple of an unregistered primary placement of tokens (ICO), which, according to the Sec, violated the laws on securities.
At the end of last year, Garlinghaus said that the company is unlikely to enter the stock market – it is better to focus on expanding its international presence through partnerships.
“The Ripple Mission is to serve as a link between traditional finances and blockchain. Banks are already connected directly to our blockchain, with the help of which digital and fiat currencies are performed, and for institutions it becomes possible to tocenize assets, ”concluded Long.
Previously, Monica Long said that no bear Trends in the crypto trenches will prevent Ripple from scaling their business.
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Source: Cryptocurrency
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