Blockchain payment company Ripple has no immediate plans to follow the trend of digital asset companies going public. Recently interview “We don’t have an IPO schedule. We don’t have a plan, we don’t have a timeline,” Ripple President Monica Long said in an interview with Bloomberg at the company’s Swell conference in New York.
Her comments highlight the company’s current priorities, including expanding its payments business, launching a dollar-pegged cryptocurrency known as a stablecoin, and forming new partnerships, rather than pursuing an initial public offering.
IPO aspirations remain on hold
These statements were made immediately after Ripple Closed safely A $500 million funding round took place earlier this week, bringing the valuation to $40 billion. This funding round was led by notable investors including Fortress Investment Group and Citadel Securities, in addition to contributions from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
The substantial backing indicates that Ripple is not under financial pressure to seek public funds at this time. Long emphasized that the company remains “very well capitalized” and can fund “organic growth” and pursue acquisitions and partnerships without having to turn to the public markets.
This decision puts Ripple in a different position than other companies. stable coin Circle of Issuers (CRCL), Bullish (BLSH) and Gemini (GEMI) all recently went public in the US as part of a broader wave of digital asset listings.
For XRP holders, Ripple’s choice to postpone its initial public offering has mixed implications. On the other hand, the lack of a short-term listing may postpone expectations for a liquidity event that could increase XRP’s market visibility.
Conversely, recent funding rounds and a reported doubling of its customer base quarter-over-quarter have increased confidence in Ripple’s growth trajectory and stablecoin payments strategy.
Organizations’ Trust in Ripple
analyst suggest The $500 million raise at a $40 billion valuation reflects the institution’s strong confidence in Ripple’s long-term prospects. Coupled with the increasing on-chain adoption of the XRP Ledger (XRPL) for stablecoins and cross-border payments, this funding could help stabilize the price of XRP and pave the way for future upside, especially if Ripple continues to expand its presence in the enterprise sector.
Additionally, Ripple’s focus on promoting stablecoin integration and regulatory frameworks appears to be bearing fruit. Long noted that regulatory clarity in the U.S. and internationally has “opened up the market” and led to a surge in adoption.
the current, XRP is trading within a short-term range formed following a continued correction between $2 and $2.60. The altcoin is currently trading at $2.32 and has seen a 4.7% rally in the past 24 hours, with a clear resistance barrier at $2.69.
Featured image from DALL-E, chart from TradingView.com
