Ripple CEO says IPO is not a priority but remains possible amid SEC battle

Mila October 17, 2024

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Key Takeaways

Ripple CEO states IPO is not a priority due to strong financials and SEC issues.
Ripple introduces RLUSD stablecoin to replace USDC and Tether for liquidity.

Ripple CEO Brad Garlinghouse shared insights on the XRP ecosystem’s future, crypto ETF trends, and Ripple’s regulatory challenges in the US during a recent interview at the Ripple Swell conference.

On the topic of a Ripple IPO, Garlinghouse stated that an initial public offering is not a priority for the company at this time.

He cited Ripple’s strong financial position and ongoing regulatory challenges from the SEC as key reasons for this decision. However, he did not dismiss the possibility of pursuing an IPO in the future.

The CEO was candid about Ripple’s relationship with the SEC, describing the agency as “acting outside of the law” when it comes to XRP. Despite a favorable ruling that XRP itself is not a security, Garlinghouse expressed frustration with the SEC’s ongoing attempts to challenge this in the market.

However, he remains optimistic that SEC Chair Gary Gensler’s days are numbered, predicting a leadership change that could bring more clarity to the crypto industry.

Garlinghouse predicted that it’s only a matter of time before XRP ETFs, along with other crypto-based ETFs like Ethereum and Solana, become mainstream. He cited recent filings, including a Grayscale basket ETF, as evidence of the growing demand for such products.

“I think when the Bitcoin ETF came out in January, I said very publicly, it’s just a matter of time that you’ll see ETH ETFs, you’ll see Solana ETFs, you’ll see XRP ETFs,” he noted.

Garlinghouse also touched on Ripple’s new RLUSD stablecoin, emphasizing its role in bringing more liquidity to the XRP Ledger. According to him, Ripple has already been using stablecoins like USDC and Tether for its on-demand liquidity product but aims to replace them with RLUSD in the future.

Looking ahead to 2025, Garlinghouse is optimistic about the future of the crypto market, predicting that the current regulatory headwinds will ease and that crypto prices will rise as more capital flows into the space.

He noted the growing involvement of major players like Blackrock and emphasized the long-term potential of tokenization and blockchain technology to drive broader adoption.