Ripple Plans to Invest $1 Billion to Diversify Products, According to CEO

Ripple CEO Brad Garlinghouse announced at the Dubai Fintech Summit that his company is planning to expand beyond liquidity provision. While addressing the audience, Garlinghouse stated that the company’s initial focus was on cross-border settlement services, but it now aims to go beyond the walls of liquidity and payment services. Ripple is planning to expand through organic growth or mergers and acquisitions(M&A), as per Garlinghouse. He revealed that the company is interested in buying firms in blockchain and crypto-friendly markets, such as the UAE and Switzerland. Ripple has over $1 billion in cash, which it is willing to invest in other areas of blockchain technology. The goal of this extension plan is to expand to fundamental areas of blockchain technology, including liquidity, custody, compliance, and tokenization. To emphasize its intention to evolve, Ripple acquired Switzerland-based digital-asset custody and tokenization firm Metaco. This move was expected, given Ripple’s ordeal with regulators in the US over the last two years. Ripple has expanded in the Middle East and North Africa by opening a new office in Dubai, and it plans to expand further into London.

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

View J-S Tremblay website

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top