Ripple CEO Expects to See More 'Consolidation' in 2020. Community Wants Big Acquisitions

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Tue, 01/14/2020 - 05:58
Alex Dovbnya
Brad Garlinghouse, the CEO of Ripple, is convinced that both fintech and cryptocurrency industries will continue to see some consolidation this year
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Ripple CEO Brad Garlinghouse has just shared his take on Visa acquiring payment startup Plaid for $5.3 bln, claiming that 2020 will be the year of consolidation in fintech and crypto. The XRP community is curious whether this could be a hint of new acquisitions the San Francisco-based blockchain giant plans to make this year. 

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Visa acquires a fintech giant

Visa, the number one payments technology company that is responsible for processing $3.4 trln transactions, bought Plaid for $5.3 bln, the sum that doubles the company’s valuation of $2.65 bln. Visa and Mastercard themselves invested in Plaid during its $250 mln funding round before the acquisition, which might explain such an enormous premium. 

The takeover of the fintech darling will give Visa a great opportunity to “accelerate” the company’s business beyond cards, according to its CEO Al Kelly

More acquisitions in 2020?   

The need for consolidation seems to be the new talking point of Garlinghouse. As reported by U.Today, he opined that the world didn’t need more than 3,000 cryptocurrencies, and the industry should expect “a migration to quality” in 2020. 

Notably, Ripple recently completed its own $200 mln Series C funding round that allowed it to end up in the $10 bln club. The XRP community expects the decacorn to continue expanding its ecosystem. 

We haven’t heard from #Ripple lately @BGarlinghouse so can you tell us if @Ripple will be making big acquisitions in 2020 to boost #XRP’s ecosystem?

I’m assuming that you’ll be making big strategic moves & partnerships since you got $200 Million dollars from your Series C round — XRPcryptowolf (@XRPcryptowolf) January 14, 2020

Ripple currently owns a 10 percent stake in MoneyGram after investing $50 mln in the struggling company. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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