Ripple rejects IPO plans despite SEC case victory: Here’s why
Ripple won’t pursue an IPO after resolving its SEC case despite record growth, major new investors and increasing industry momentum for public listings.
Ripple, the US blockchain company behind the XRP cryptocurrency, will not pursue an initial public offering following the conclusion of its years-long legal battle with the Securities and Exchange Commission.
Ripple president Monica Long said the company has no plans or timeline for an IPO, according to a Bloomberg report on Wednesday.
“We’re in a fortunate position where we’ve been able to be very well capitalized and fund all of our organic growth, inorganic growth, strategic partnerships, anything we want to do,“ Long said.