Ripple "No IPO plans for the time being"

Suehyeon Lee

Summary

Ripple said that, unlike the industry's IPO fever, it has no plans for an IPO for the time being.
Ripple announced that it had completed a $500 million investment round.
Ripple said it can pursue organic growth, mergers and acquisitions, and strategic partnerships on its own based on its solid capital structure.

Ripple said that, unlike the industry's recent listing (IPO) frenzy, it has no plans for a public offering for the time being.

On the 6th (local time), Monica Long, Ripple's chair, told Bloomberg at the 'Swell' conference held in New York the day before, "We have no IPO plans for the time being," and added, "We have not decided on either the plan to pursue a listing or the timing."

This year, stablecoin issuer Circle, as well as Bullish, Gemini, and Figure Technologies have gone public one after another, continuing the IPO momentum among virtual asset companies. Kraken is also reportedly preparing to go public.

Meanwhile, Ripple announced that it had completed a $500 million (about 722.6 billion won) investment round that included Fortress Investment Group, a fund under Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.

Regarding this, Long said, "We have a very solid capital structure, so we have the capacity to pursue all organic growth, mergers and acquisitions (M&A), and strategic partnerships on our own."

XRP