Ripple, the blockchain-based payments company behind XRP, is making a strategic pivot, shifting its focus from an initial public offering (IPO) to acquisitions. The move comes as the company looks to strengthen its market position following the conclusion of its legal battle with the U.S. Securities and Exchange Commission (SEC). In an interview with Bloomberg on Thursday, Ripple CEO Brad Garlinghouse confirmed that mergers and acquisitions (M&A) have become a top priority. The shift follows years of legal uncertainty, which began in 2020 when the SEC sued Ripple over alleged securities violations related to XRP . However, with the SEC recently dropping its appeal, Ripple now has more freedom to shape its future. “We are now in the driver’s seat to determine how we want to proceed,” Garlinghouse stated, emphasizing that the resolution of the case allows Ripple to move forward with expansion plans without regulatory roadblocks. Notably, Ripple’s legal dispute with the SEC came at a steep cost. Garlinghouse disclosed that the company has spent over $150 million in legal fees and has already paid $125 million in fines, funds that are currently held in escrow. He suggested that Ripple may explore ways to recover some of these costs. When asked about the possibility of Ripple going public, the businessman acknowledged that an IPO remains an option but is not a priority at this time. “It’s certainly something that is possible. The United States SEC under Gensler was so hostile to this industry ,” he said. Instead, the company is focused on acquiring firms that align with its mission of expanding blockchain infrastructure for financial institutions. “I won’t name names. At its core, Ripple is an infrastructure blockchain company. We sell our technology to businesses, primarily financial institutions. We are interested in other infrastructure blockchain companies,” he added . Beyond acquisitions, Ripple is also ramping up its involvement in the stablecoin market. Garlinghouse highlighted the company’s RLUSD stablecoin, which launched in late 2023 and has already exceeded initial growth expectations. He predicted that RLUSD could rank among the top five stablecoins by the end of 2025. Additionally, Garlinghouse suggested that improved regulatory clarity could boost the adoption of XRP-based products, including a potential XRP exchange-traded fund (ETF). “There are 11 different filings for crypto ETFs, and I expect we’ll see them go live in the second half of this year,” he said, hinting at the increasing institutional interest in cryptocurrency investments.
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