During a recent interview with CNBC, Ripple President Monica Long clarified that the San Francisco-based enterprise blockchain company is not interested in having an initial public offering (IPO) at the moment due to the fact that it has sufficient liquidity.
"At this moment, we have a lot of liquidity, so we do have billions of dollars of cash on the balance sheet," she stressed.
Long added that Ripple is currently in an "acquisitive" position. "So, we are really just focused on growing the business as we are now," she added.
As reported by U.Today, Ripple recently announced that it was acquiring prime brokerage Hidden Road for $1.25 billion, which is one of the largest deals in crypto history.
There have been years of speculation regarding Ripple's potential IPO plans.
In 2022, Ripple CEO Brad Garlinghouse said that Ripple would consider going public after the end of its battle with the U.S. Securities and Exchange Commission (SEC).
In October, Garlinghouse stated that an IPO was not a priority for the company since it is in a strong financial position.
Vladislav Sopov
U.Today Editorial Team