Following the recent closure of the SEC lawsuit against Ripple, Monica Long, president of the company, highlighted that now is an opportune time for the crypto industry in general. Long spoke during Paris Blockchain Week, where she emphasized the impact of this victory on the broader market and its potential for future growth. 💰 However, despite positive sentiment from Ripple’s CEO Brad Garlinghouse about exploring new capital avenues like IPO, Long expressed doubt regarding Ripple’s immediate need for public listing. 📈
Long delved into details surrounding Ripple’s recent $1.25 billion deal with Hidden Road, a prime brokerage firm that promises to facilitate institutional investments in crypto assets through a regulated platform. This partnership brings the company closer to its goal of bringing financial institutions into the cryptocurrency space. Notably, this venture will leverage Ripple’s recently launched stablecoin RLUSD as collateral within their Prime Brokerage services.
Furthermore, Long celebrated the victory against the SEC lawsuit, expressing that it provides clarity for Ripple to focus on expansion and business operations. On the topic of IPO, Long was decidedly less optimistic than Garlinghouse. She argued that companies usually seek public listing for exposure and increased liquidity, while Ripple doesn’t require such immediate benefits.
As a result, Ripple remains focused on building its private business for now, but hasn’t completely ruled out an IPO in the future if market conditions change or the company requires additional capital.