Ripple (XRP) IPO in US? CEO Brad Garlinghouse chimes in

The prospects of Ripple Labs filing for an initial public offering have been widely discussed over the past two years.

Brad Garlinghouse, the company’s CEO, spoke today at a fireside chat at Korea Blockchain Week, currently being held in Seoul.

Ripple IPO in US?

Speaking at the conference, Garlinghouse discussed several topics, including the prospects for an initial public offering (IPO) in the United States.

When asked, the CEO said that they are currently not interested in going public in the country. This is mainly due to the position of the United States Securities and Exchange Commission towards the entire industry, not just Ripple.

He went so far as to say that he advises against incorporating his companies there because otherwise “they’re just asking for more legal bills.”

JUST IN: Speaking to #KBW2024Ripple CEO Brad Garlinghouse said he has “no interest” in a US IPO. $XRP pic.twitter.com/fDvx3hChC5

— CryptoPotato Official (@Crypto_Potato) September 4, 2024

Recall that the US SEC has filed a massive multi-million dollar lawsuit against Ripple, alleging that the company has made unregistered securities offerings. Essentially, the Commission is arguing that its native cryptocurrency, XRP, should fall under the purview of securities regulations.

However, US judge Analisa Torres recently partially ruled against the SEC, reducing its claimed fine by more than 90% to around $125 million, upholding its earlier ruling that XRP was offered on secondary exchanges it is not a security.

Incoming Ripple Stablecoin

As CryptoPotato reported in early August, the company also plans to launch its own stablecoin called Ripple USD.

At the conference, Garlinghouse also spoke on this topic, detailing that they are currently in a “private closed beta” and that RLUSD has minted itself within this framework.

He also gave an expected release schedule, saying expectations are that this will happen in “weeks, not months.”

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