Brad Garlinghouse, CEO of Ripple, said the San Francisco-based payments company will consider acquiring other crypto projects in the future.
Garlinghouse says CNBC Ripple has a “very strong balance sheet” and is in a growth stage where it is more likely to be a buyer than a seller.
“I think there is a lot of growth in cryptocurrencies, and we are looking at many different segments of cryptocurrencies for growth, some of which are clearly built in-house – carbon. The credit initiative started in-house – but we have invested in more than 30 or 40 companies around the crypto ecosystem and will continue to grow through external acquisitions. “
The CEO believes there will be more mergers and acquisitions across the crypto space.
“I think we can see a rise [mergers and acquisitions] In blockchain and crypto space. I haven’t seen it yet. But I think it’s likely in the future. And as it unfolds, we will certainly consider such things. “
Garlinghouse also added that Ripple will assess the potential for an initial public offering (IPO) after the proceedings with the US Securities and Exchange Commission (SEC) have ended.
San Francisco’s payment companies are not the only cryptocurrency companies that are considering acquisition. Brett Harrison, president of the crypto exchange FTX.US, also told CNBC that his company plans to explore the market “on potential mergers and acquisition opportunities.” Protection of new users and / or regulatory licenses.
“We are doing this globally in various places, such as Japan, Australia and Dubai, where we were able to partner with local companies and make acquisitions to obtain the required licenses.”
FTX CEO and co-founder Sam Bankman-Fried told Bloomberg last week that his company had secured more than $ 2 billion from a funding event to fund investments in other companies.
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