Hope on the Horizon for Ripple
Despite being caught in a legal tug-of-war with U.S. regulators, Ripple is determined to take its public offering aspirations seriously. Yoshitaka Kitao, the CEO of SBI Group, made it clear during an earnings call that Ripple’s leadership is eyeing an eventual initial public offering (IPO) once the dust settles from their ongoing legal debacle.
SBI Group’s Confidence in Ripple
Kitao, speaking candidly, indicated that Ripple’s CEO Brad Garlinghouse and Executive Chairman Chris Larsen are both eager to navigate the public company waters. “After the current lawsuit, Ripple will go public. The current CEO wants to do that. Chris wants to do that,” Kitao stated, exuding confidence about the company’s future.
A Bright Future for Investments
SBI Group, Ripple’s largest external shareholder, sees a potential IPO as a golden ticket that could pay significant dividends for their investment. Kitao believes that their strategy of investing in fintech companies is not just a trend; it’s the company’s foundational philosophy. “We have been investing in fintech companies and we spread that technology across the industry. That is SBI Group’s basic strategy,” he added, proving financial savvy knows no bounds.
The Ripple Legal Saga: A Quick Recap
The ongoing SEC lawsuit against Ripple, filed back in December 2020, has been a rollercoaster ride for the company and its investors. Allegations of XRP being a $1.3 billion unregistered securities offering have weighed heavily on Ripple, but the company recently celebrated a few legal victories that have rekindled investor optimism and even pushed the price of XRP above $1.4—an exciting leap not experienced since January 2018.
Industry Trends: IPOs on the Rise
Garlinghouse previously hinted at a broader trend, suggesting that more IPOs within the crypto and blockchain sectors are imminent. “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,” he declared, echoing an air of expectation that other companies may soon follow Ripple’s lead.
Conclusion: A Wait Worth Making?
With optimism swirling amidst legal skirmishes, the big question remains: will Ripple achieve its IPO dreams? While the answer is still shrouded in uncertainty, one thing is sure—SBI’s Kitao believes that the best is yet to come. Ripple’s resiliency, combined with the potential return on investment, may just prove to be a wait worth making for stakeholders.
