More

    Ripple “Eyeing” Multiple Investment & Acquisitions: Reveals CEO Brad Garlinghouse

    Who intends to press its “strong balance sheet” to advantage

    • Ripple is in a “very strong position” with its business growing “strongly”
    • MoneyGram to start with US dollar to Philippine peso and the US dollar to Mexican pairings
    • The U.K. recently issued guidance classifying XRP with non-security attributes

    Ripple is working on “multiple” investments and acquisitions after the $30 million investment in MoneyGram, reported Yahoo Finance.

    “We’re in a very strong position, our business is growing strongly, we have a strong balance sheet, and I intend to press our advantage,” Brad Garlinghouse, the CEO of Ripple revealed.

    Garlinghouse told the publication that active discussion on several potential investments is currently underway but he didn’t provide any further details.

    “Deals are always very, very hard to predict,” he said.

    As for the areas, Ripple is targeting, Garlinghouse said, “Anything we can do to accelerate our growth and give us more capabilities that serve customer needs is a good place to be.”

    MoneyGram To Start With US dollar To Philippine Peso and The US Dollar To Mexican Pairings

    Ripple already has some big names like Santander, SBI Holdings in its long list of partners.

    “We’re probably the largest investor in blockchain and crypto on the planet,” Garlinghouse said. “We’ve publicly announced we’ve made about $500m of investments in the space over the last 18 months.”

    Recently it joined hands with one of the world’s largest money transfer company MoneyGram. Ripple bought a 10% stake in the company, with an option to invest a further $20 million at the same price over the next two years.

    “Moneygram is in a position where it has tremendous assets globally and the public market has not been particularly kind to Moneygram,” Garlinghouse said. “The stock had gone way down and they had some pressure. We felt like we were in a position where we could help them, and they were in a position where they could help us.”

    As part of the deal, Moneygram has started using XRP-powered xRapid, announced by the company last week. Garlingouse said Moneygram will start with the US dollar to Philippine peso and the US dollar to Mexican pairings.

    “It’ll start to ramp in Q4 but really we’ll start to see more consequential volumes in Q1,” he said.

    XRP Regulation Around the World

    In the latest live discussion, Michelle Bond, Ripple’s Global Head of Government Relations also discussed the current global regulatory landscape, noting,

    “Globally, there isn’t a single jurisdiction that isn’t paying attention to the fintech space, especially when it comes to blockchain and digital assets.”

    Around the world, policymakers and governments are working together to establish regulations, with regions like the U.K., Singapore, Switzerland, and Abu Dhabi being leaders in the space by creating a framework that supports innovation and address risk.

    She talks about how the U.K. recently issued guidance classifying XRP with non-security attributes.

    As Commissioner Hester Peirce of the U.S. Securities and Exchange Commission (SEC) also noted that these frameworks can serve as a model for countries with less clarity that are looking to “co-learn” how to navigate crypto space.

    The U.S. and other pro-innovation countries can set the tone for the rest of the world to follow, she said.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,262FansLike
    2,712FollowersFollow
    4,095FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Uzbekistan Gov't And Cardano’s Emurgo Partner On Blockchain Task Force For STO Regulations

    Emurgo, Cardano’s blockchain commercial wing, has inked a partnership deal with the Uzbekistan government to help with setting up a task force which will...

    Binance Adds 2nd Fiat To P2P Trading Platform, Vietnamese Dong VND-To-Crypto Now Open

    Binance crypto exchange announced the second fiat currency on their peer-to-peer (P2P) platform on Monday, January 20, 2020. The Vietnamese Dong (VND) was...

    Fed’s “Not” QE Pushing Dow and S&P 500 to ATH makes Investors Nervous, Driving them into Bitcoin

    Buy Bitcoin today while the US Stocks markets stay closed in observance of Martin Luther King Jr. Day Federal Reserve Chairman Jerome Powell might...

    Crypto Payment Processor BitPay Adds XRP Support On Apple iOS And Android

    BitPay, a crypto payment service which provides users a wallet as well as gift cards which can be bought using different coins, is now...

    $7 Trillion AUM Giant Fidelity Posts Job Opening For Bitcoin Mining Engineer

    Fidelity is looking to expand operations and as a result, is hiring a Bitcoin (BTC) mining engineer to help with the design, maintenance, and...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.