Brad Garlinghouse, the CEO of Ripple, has recently disclosed that the cross-border payment firm intends to consider Initial Public Offering (IPO) once the legal tussle with the United States Security and Exchange Commission (SEC) is brought to an end.
According to a CNBC report, Garlinghouse mentioned this during the World Economic Forum in Davos.
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On December 20, 2022, the lawsuit between Ripple and the U.S. regulator will clock two years. Obviously, the case has stretched beyond expectation for XRP community members who wanted to see it wrapped up as soon as possible. However, Ripple believes that the lawsuit may end by the end of 2022, which will boost the possibility of going public.
During the conversation with CNBC, Ripple CEO said the company expects to get certainty and clarity in the United States in terms of regulation.
Brad Garlinghouse said, “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.
About going public, he said, “But you know, we certainly are at a point in scale, where that is a possibility. And we’ll look at that once we’re past this lawsuit with the SEC.”
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Despite the widespread selloffs in the crypto market that played out recently, which massively affected XRP market value, Garlinghouse pointed out that the firm’s business continues to go from strength to strength.
He stated that in the first quarter of 2022, the volume for its On-Demand Liquidity (ODL), the cross-border payments product that uses XRP, totaled $8 billion compared to $1 billion recorded in the same period in 2021.
Garlinghouse said, “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.”
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