Ripple CEO Sets Aside $1B for Expansion Beyond Liquidity Services

Ripple CEO Sets Aside $1B for Expansion Beyond Liquidity Services


Ripple CEO Brad Garlinghouse announces plans for Ripple to expand beyond cross-border liquidity and payment services, exploring acquisitions and mergers in blockchain and crypto-friendly markets, with the recent acquisition of Swiss firm Metaco as a starting point for expansion.

Brad Garlinghouse, the CEO of Ripple, announced at the recently concluded Dubai Fintech Summit that his company intends to expand its services beyond liquidity provision. 

Ripple, a San Francisco-based fintech company, started as an enterprise-focused cross-border settlement service provider. Nonetheless, Garlinghouse highlighted in his speech that the company intends to grow beyond ‌liquidity and payment services. A trending XRP Ripple (XRP) influencer, Eri, shared the speech clip on her Twitter account with her followers.

Ripple Aims to Expand Beyond Cross-Border Liquidity

Ripple’s CEO, Brad Garlinghouse, recognized the four fundamental elements of blockchain: liquidity, custody, compliance, and tokenization. He stressed that Ripple’s aspirations go beyond being a provider of cross-border liquidity. Garlinghouse highlighted the need for Ripple to deal into other sectors within the blockchain tech industry. 

The group is engaged in strategic planning, exploring possibilities for organic expansion and mergers and acquisitions (M&A) to accomplish their goals.

Ripple intends to actively acquire other corporations through mergers and acquisitions to expand its services while leveraging its existing resources and expertise to diversify its offerings.

Garlinghouse made it clear that his company was actively seeing as acquisitions and expressed a keen interest in purchasing corporations operating in blockchain tech and crypto-friendly markets. He highlighted the UAE and Switzerland as countries that provide regulatory clarity for cryptocurrency entrepreneurs, highlighting their representation at the summit.

Garlinghouse confirmed that Ripple as of now possesses over $1 Billion in cash on its balance sheet and plans to actively invest this financial resources in the expansion of other areas within the blockchain tech sector. He emphasized the company’s commitment to using these funds for acquiring other corporations and improving its internal infrastructure.

Ripple Expands with Acquisition of Swiss Company Metaco

Ripple has started its expansion strategy by acquiring Metaco, a prominent Switzerland-based digital investment custody and tokenization company. The company announced the acquisition via a tweet, showing its entry into the Swiss market. Metaco’s expertise in tokenization and custody aligns with the fundamental aspects of blockchain tech, which Ripple CEO Brad Garlinghouse emphasized.

Ripple’s expansion into Switzerland doesn’t surprise, seeing as the regulatory challenges it has faced with United States authorities in recent years. Switzerland offers a more favorable regulatory environment for digital currencies and blockchain tech than the United States. 

Garlinghouse himself acknowledged this during his speech at the Fintech Summit. Furthermore, in April, Ripple revealed its intends to expand into London, as disclosed by Stuart Alderoty, the company’s chief legal officer. In addition, Ripple has opened a new office in Dubai to strengthen its presence in the Middle East and North Africa (MENA) region.

Ripple and XRP: Empowering Digital Payment Transformation in 13 African Countries

CV VC and South Africa’s Standard Bank collaborated to release the “African Blockchain Tech Report 2022” in late April 2023. The report outlines that Ripple and XRP Ripple (XRP) are extensively utilized in 13 African countries, which have gone unnoticed within the XRP Ripple (XRP) community.

Reports by the report, there are whole lot of opportunities for digital payment service providers, including Ripple, in Africa. Regardless of the region’s progress in recent years, there remains untapped potential. The report predicts a 20 percent growth in electronic payments revenue by 2025, amounting to $40 billion.

1 page of the report is dedicated to highlighting Ripple’s technology. It emphasizes the innovative solutions offered by Ripple, showcasing its capacity to support secure and efficient cross-border transactions and strengthen financial inclusion in Africa.

The report endorses Ripple and its XRP-powered On-Demand Liquidity (ODL) solution. It summarizes Ripple’s presence in plenty of African countries, including Benin, Burkina Faso, Côte d’Ivoire, Egypt, Ghana, Kenya, Mali, Niger, Nigeria, Senegal, South Africa, Togo, and Uganda. 

Digital payments make up less than 10 percent of Africa’s total payment volume. Nonetheless, the report argues that using blockchain tech and digital currencies for remittances can cause whole lot of cost savings. On average, these solutions can reduce charges by 6.3%, with sub-Saharan Africa potentially experiencing substantially greater protection of 8.46 percent compared to traditional methods.

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