• May 27, 2022

Brad Kent Garlinghouse: “Ripple will explore Initial Public Offering (IPO)”

Brad Kent Garlinghouse: “Ripple will explore Initial Public Offering (IPO)”

Ripple will consider keeping the Initial Public Offering (IPO) following the completion of the litigation with the US Securities and Exchange Commission (SEC). This was stated by the CEO of the company Brad Kent Garlinghouse during the World Economic Forum in Davos.

«I think we want to get certainty and clarity in the United States with the SEC. You know, I’m hopeful that the SEC won’t slow down that process any more than it already has».

To recall, the US Securities and Exchange Commission (SEC) alleges that Ripple participated in an illegal securities offering, through the sale of XRP. But, Ripple has defended itself, saying that the currency should not be treated as a security but as a designation that will subject it to stricter regulations.

In fact, the lawsuit has lasted almost 15 months, and Ripple expects it to end this year.

Ripple to explore IPO after SEC lawsuit ends

Specifically, according to Brad Kent Garlinghouse, following the completion of the litigation, Ripple will seek a public listing.

«We’re certainly at a point on the scale, where that’s a possibility. And we’ll see once we get through this lawsuit with the SEC. And most importantly, the business continues to grow».

By the way, Brad Garlinghouse expressed to CNBC that Ripple hopes to obtain certainty and clarity in the United States, regarding the regulator. Generally, he has been constantly insisting that the United States introduce appropriate regulations for the Blockchain and cryptocurrency spheres.

Brad Kent Garlinhouse: “The business has continued to grow”

Mainly, Ripple uses its tokens (XRP), the sixth largest cryptocurrency on the market, to make international payments. The company converts fiat to XRP to reduce the cost of the transaction as the speed increases and then converts the XRP back to fiat.

In this regard, Garlinghouse added that, during the first quarter of this year, the volume of on-demand liquidity for XRP products using cross-border payments, increased to $8 billion. Compared to $1 billion last year for the same period.

«Our growth is almost all outside the United States. I think it will probably persist until we get the clarity and certainty that we’ve been looking for in America».

I end with this sentence from José De San Martín: “Conscience is the best judge a good man has».