Ripple "No IPO Plans This Year... No Need for Market Exposure or Fundraising"

Minseung Kang

Summary

Ripple announced that due to its billions in cash reserves, it will not proceed with an IPO this year and does not need fundraising or market exposure.
CEO Brad Garlinghouse also stated that external fundraising is not needed for the time being.
Ripple emphasized its growth strategy through corporate acquisitions, recently acquiring Hidden Road for $1.25 billion.

Ripple has announced that it will not proceed with an Initial Public Offering (IPO) this year.

According to cryptocurrency specialist media Coinpedia on the 25th (local time), Monica Long, President of Ripple, recently stated in an interview with CNBC, "Ripple is a financially stable company with billions of dollars in cash reserves," and "An IPO is generally a means for fundraising or increasing market exposure, but Ripple currently needs neither."

Brad Garlinghouse, Ripple's Chief Executive Officer (CEO), also commented on the possibility of an IPO, saying, "External fundraising is not needed for the time being."

Ripple has mentioned the possibility of going public since resolving its lawsuit with the SEC in 2022. By the end of 2023, as legal uncertainties were resolved, the possibility of going public was again highlighted. However, Ripple has recently made it clear that an IPO is not an immediate priority.

Meanwhile, Ripple is continuing its growth strategy through corporate acquisitions instead of going public. Recently, it gained attention by acquiring Hidden Road, a prime brokerage handling $3 trillion in annual transactions, for $1.25 billion.

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