Ripple CEO Reveals Plans for Expansion Beyond Liquidity Provision with Over $1 Billion to Deploy
05/18 16:40
Ripple CEO Brad Garlinghouse has revealed that the company is seeking to expand beyond its current role as a liquidity provider. Speaking at the Dubai Fintech Summit, Garlinghouse emphasized that Ripple aims to be more than just a cross-border payments service provider. The company has over $1 billion in cash reserves that it can use for organic expansion or acquisitions in crypto-friendly markets like Switzerland and the UAE. Ripple recently acquired Swiss digital asset custody firm Metaco for $250 million, a move that aligns with its plans to expand into custody and tokenization. The company is also looking to expand into London and has opened a new office in Dubai to increase its presence in the MENA region.
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