Cryptocurrency rating, Weiss, has charged Ripple labs Inc. to double up on its Initial Public Offering (IPO) to benefit from hype wave.
Weiss made this disclosure referencing a recent Ripple quarterly market report that indicates the firm and XRP saw a mixed growth in 2019.
The crypto rating, laid emphasis on Ripple’s declining token sales to exchange, charging the firm to hurry and launch its IPO as soon as possible for effective growth.
Different experts have said IPO may not be necessary for Ripple, considering the fact that the firm has enough funding to establish its desired remittance solution, which is currently desrupting the industry, however, the final decision is personal to the executives at Ripple.
Brad Garlinghouse, Ripple’s CEO, who first made public the firm’s decision to launch an IPO said it is a natural idea for Ripple.
During the World Economic Forum in Davos, Ripple’s Brad Garlinghouse was featured in a panel hosted by Wall Street Journal. The panel, tagged “Changing the Finance Industry From Within”, was anchored by Phillipa Leighton-Jones, Editorial Director, Innovation, The Wall Street Journal & Dow Jones.
In the panel discussion, Brad said Ripple is ready to launch its IPO, claiming that different firms in the blockchain world would go for IPO.
He said, “we’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.”
“In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.” –@bgarlinghouse at #WEF20
— Asheesh Birla (@ashgoblue) January 23, 2020
Ripple just made around $200 million during its series C funding. In the past, the firm had raised $93.6M, making a total of $293.6M received.