Ripple may purchase other crypto projects in future: Garlinghouse
San Francisco-based Fintech firm is highly Optimistic with crypto space future and also it is planning to purchase and partner with other crypto projects in near future.
Ripple is a San Francisco-based Fintech company, which provides global payment services via its XRP ledger blockchain technology, which is not a 100% decentralized ledger. At present, Ripple is under legal hurdles because of a lawsuit filed by US regulatory body in December 2020.
Brad Garlinghouse, CEO of Ripple, recently appeared in an interview with CNBC. During the interview session, Ripple’s CEO unveils his plan to acquire another crypto project.
Ripple’s CEO said that the crypto & blockchain industry is full of opportunities and growth and Ripple company is looking at these things closely.
“I would say there’s a lot of growth in crypto, and we are looking at a lot of different segments in crypto for growth.”
Further Ripple’s CEO noted that they had an investment in more than 30-40 crypto companies but also they will try to acquire other projects.
“we’ll continue to look at opportunities to grow through external acquisitions also.”
Garlinghouse said that in the future, we will see a huge partnership and merger of crypto projects in the digital assets industry. Through this statement, Ripple’s CEO hinted that the crypto industry still standingl in its very initial phase where huge numbers of crypto companies will be required to provide services under collaborative approach, more likely to traditional systems based companies.
Garlinghouse also talked about the planning of public listing of Ripple company but after the end of the legal fight of Ripple vs US Securities and Exchange Commission (SEC) agency.
Ripple vs SEC
The SEC agency is a dominant regulatory body of the spot money market, which also covers regulatory works on crypto industry as a leading agency.
In December 2020, the SEC Agency filed a lawsuit against the Ripple firm. Through the lawsuit, the SEC agency stated that Ripple’s native token XRP is a security, which is unregistered with the SEC.
The SEC agency also claimed that the Ripple company sold more than $1.2 Billion worth of XRP tokens publicly, which was illegal under the securities law.
Read also: Coinbase adds 8 small-cap crypto assets to its custody services
