On March 19, the SEC settled its lawsuit with Ripple Labs, and the company is now considering its next strategy in the crypto industry.
The same day, Ripple CEO Brad Garlinghouse spoke to Bloomberg Television, saying, “The company’s at a stage where we could consider that,” however, “but it isn’t a huge priority.”
Many have long suspected the blockchain behemoth would eventually go public once the regulatory fog cleared.
The CEO also said that Ripple has been lucky enough to grow authentically, unlike most companies that go public only to collect media capital. He said, “You know, we have been in a very fortunate position to grow the business organically.” in the interview.
However, Ripple is moving in a different direction. Garlinghouse said, “This is an industry that will finally be able to thrive in the United States, the world's largest economy," hinting at acquisitions to further increase its influence in the blockchain market.
Further, Ripple's immediate plans may be acquisitions before a potential public offering, Garlinghouse reinstated. "Ripple, at its core, is a blockchain infrastructure company, and we'll look at other things that are blockchain infrastructure companies," said Garlinghouse.
Garlinghouse, claims that custodial and payment services represent significant growth opportunities for the company. Ripple seeks to offer secure storage services, and financial institutions are progressively eyeing custodial solutions for tokenized real-world assets.
In payments, the company is addressing inefficiencies with slow global transfers. Garlinghouse said, “Wires are slow,” referring to a five-day wait on a euro transfer he had just made. He also pointed to the increased use of stablecoins as regulatory clarity emerges from Washington.