Brad Garlinghouseannounced that San Francisco-based payments company Ripple is considering acquiring other crypto projects in the future.
Speaking to CNBC, Garlinghouse stated that Ripple company has a ‘very strong balance sheet’ and is in a growth phase where they are much more likely to be a buyer than a seller.
“I can say that there has been very strong growth in the crypto space and we are looking at different segments in this space. We will build part of these segments directly (including what we started as a carbon credit initiative) but we have invested in 30 to 40 companies in the crypto ecosystem and will continue to look for new opportunities, where our goal is to grow even more through external acquisitions.”
The CEO thinks there will be an increase in mergers and acquisitions in the crypto space.
“I think there will be an increase in mergers and acquisitions involved in the blockchain and crypto space. We haven’t seen it yet, but it will be quite possible in the future. When these kinds of things come up, we as a company will try them too.”
Garlinghouse, Ripple’s US Securities and Exchange Commission (SEC) He also stated that they are evaluating the possibility of an initial public offering (IPO) after completing its ongoing lawsuit with
The San Francisco payments firm isn’t the only crypto firm considering acquisitions: Brett Harrison, head of cryptocurrency exchange FTX.US, told CNBC that his firm plans to examine the market for “potential M&A opportunities.” Such developments will help secure licenses issued by new users and regulators, according to the CEO of FTX.US.
“We do this in different places globally, in places like Japan, Australia, Dubai, where we can partner with local companies or sometimes make acquisitions to get the licenses we need.”
CEO and co-founder of FTX Sam Bankman-Fried He announced to Bloomberg last week that his company has raised over $2 billion from fundraising events to finance investments in other firms.
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