Ripple (CCC:XRP-USD) may still be planning for an initial public offering (IPO) even as it deals with a lawsuit from the U.S. Securities and Exchange Commission (SEC).
At least, that’s what SBI Group CEO Yoshitaka Kitao believes. He said as much during an earnings call with investors. The CEO said that Ripple is just waiting for the legal battle with the SEC to reach a conclusion before it moves forward with IPO plans.
SBI Group claiming that Ripple will go public holds weight. The company isn’t just some outsider, it’s the largest third-party investor in Ripple. Kitao says SBI Group’s investment in Ripple will pay off following its IPO.
Kitao’s belief that Ripple will go public is backed up by previous statements from Ripple CEO Brad Garlinghouse. Before all of the lawsuit shenanigans ensued, Garlinghouse had been dropping hints about a potential IPO for Ripple.
At that time, the Ripple CEO said that he believed crypto and blockchain IPOs were going to become more common. Garlinghouse even said that Ripple will be among those companies, reports CoinTelegraph.
Here’s the exact quote from Ripple CEO Brad Garlinghouse about a possible IPO, as collected from Finance Magnate.
“In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first, and we’re not going to be the last, but I expect us to be on the leading side. It’s a natural evolution for our company.”
Ripple is behind the cryptocurrency of the same name. That cryptocurrency trades under the XRP ticker and has been performing well this year despite the legal battle. As of Thursday afternoon, the token was up 2.1% and is up 523.1% since the start of 2021.
Investors that are still wary about Ripple due to the ongoing lawsuit with the SEC have other crypto options to choose from.
There’s no lack of crypto news as companies continue to expand into new territories. That includes social tokens, NFT offerings, and more. Investors with a hankering for more crypto knowledge can check out the following links.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.