Ripple Shuts Down IPO Rumors: Company Says It Has No Need for Public Funding
According to Bloomberg, Ripple President Monica Long has made it clear that the company does not currently have any intentions to go public. The company is currently in a lucky position to be able to fund anything that it wants, the CEO has explained.
Ripple Doubles Down on Acquisitions, Not IPO Plans
It is hardly surprising that the recent statement was made. Long clarified earlier this year that the enterprise blockchain company was in an acquisitive condition and had no ambitions to go public. Over $4 billion has already been spent by the San Francisco-based company on a variety of investments and acquisitions. It recently declared that it had made the decision to buy Palisade, a custodial infrastructure company. Prior to this, Ripple acquired prime brokerage Hidden Road and stablecoin payment platform Rail.
Ripple Eyes Global Blockchain Leadership Through Strategic Investments
Instead of depending on public markets for expansion, Ripple‘s aggressive acquisition strategy demonstrates its desire to solidify its position throughout the larger digital asset ecosystem. Ripple is establishing itself as a major participant in institutional blockchain services by making significant investments in infrastructure, custody solutions, and payment technologies. According to analysts, this strategy might provide Ripple with a competitive advantage as the need for scalable and compliant cryptocurrency solutions grows globally.
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