Ripple's Brad Garlinghouse Hints Firm May Seek IPO Within 12 Months

The Ripple CEO said at Davos an initial public offering is seen as the “natural evolution for the company,” perhaps even this year.

AccessTimeIconJan 24, 2020 at 10:21 a.m. UTC
Updated May 9, 2023 at 3:05 a.m. UTC

DAVOS, Switzerland — Ripple CEO Brad Garlinghouse said an initial public offering (IPO) is seen as the “natural evolution for the company,” perhaps even this year.

“I think over the next 12 months you’re definitely going to see IPOs in the crypto, blockchain space. I’m not sure we want to be first but we certainly don’t want to be last either, so I expect we’ll be on the leading side of that, not the lagging side,” Garlinghouse said.

  • XRP Climbs 14% This Week as Several Institutions Adopt Ripple’s Services
    01:20
    XRP Climbs 14% This Week as Several Institutions Adopt Ripple’s Services
  • Ripple's Business 'Thriving' Despite Regulatory Uncertainty in U.S.: Ripple Exec
    00:27
    Ripple's Business 'Thriving' Despite Regulatory Uncertainty in U.S.: Ripple Exec
  • Ripple Exec Says Singapore Is a 'Significant Hub for Our Business'
    08:06
    Ripple Exec Says Singapore Is a 'Significant Hub for Our Business'
  • Sam Bankman-Fried's Trial Kicks Off; Singapore Grants Crypto Licenses to Coinbase, Ripple
    26:03
    Sam Bankman-Fried's Trial Kicks Off; Singapore Grants Crypto Licenses to Coinbase, Ripple
  • He also said his cross-border payments company has been in communication with the U.S. Securities and Exchange Commission (SEC) about the regulatory status of the cryptocurrency XRP.

    “We have been talking to the SEC for some period of time,” he said. “I feel like educating regulators is part of my job and I think that’s been a really constructive process.”

    It was the first time both of those points were addressed publicly by the firm, according to a source with direct knowledge of the situation.

    Garlinghouse made the comments at a Ripple-sponsored session at The Wall Street Journal lounge at the World Economic Forum in Davos, Switzerland.

    The San Francisco-based startup, which is working in concert with the financial services industry to rewire the world’s cross-border payments system, recently raised $200 million at an eye-popping $10 billion valuation.

    The blockchain firm also announced on Wednesday its XRP sales fell significantly in the last quarter.

    Sales dropped 80 percent from the $66.24 million sold in Q3 to just over $13 million in Q4, according to Ripple's XRP Markets Report. The drop is partly due to Ripple's suspension of programmatic sales, which accounted for $16.1 million in the previous quarter. Over-the-counter (OTC) trades also dropped 74 percent quarter on quarter.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.