Ripple Labs Considering Acquisitions and an IPO, CEO Garlinghouse Says
The CEO of Ripple Labs, Brad Garlinghouse, has revealed that his San Francisco-based payments firm is on the outlook of investing in and acquiring other crypto projects in the near future.
Appearing on CNBC, Garlinghouse explains how Ripple has a “very strong balance sheet” and is positioning itself as a buyer:
“I would say there’s a lot of growth in crypto, and we are looking at a lot of different segments in crypto for growth. Some of that, obviously, we will build internally – the carbon credit initiative is something we’ve kicked off internally – but we’ve invested in over 30 or 40 companies around the crypto ecosystem, and we’ll continue to look at opportunities to grow through external acquisitions also.”
The Ripple head is predicting increasingly more mergers and acquisitions in the crypto space as the industry is maturing and competition is gearing up among players. He said:
“I think there’ll be an uptick in [mergers and acquisitions] in the blockchain and crypto space. We haven’t seen that yet. But I think that’s likely in the future. And I certainly think as that unfolds, we would consider things like that.”
Furthermore, Ripple is evaluating a possible initial public offering (IPO) once the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) has been completed
In a recent interview at the World Economic Forum, Garlinghouse spoke of the massive potential of non-fungible tokens (NFTs), which he believes are being underutilized.
Crypto firm Ripple will explore IPO after SEC lawsuit ends, CEO says https://t.co/aT14zfAz5H
— CNBC (@CNBC) May 25, 2022
https://platform.twitter.com/widgets.js
The post Ripple Labs Considering Acquisitions and an IPO, CEO Garlinghouse Says appeared first on iGaming.org.
Source: igaming
