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 <p class="is-style-lead">Fintech firm Ripple has put its <a rel="noopener noreferrer nofollow" title="plans" href="https://thebittimes.com/tag/plans.html">plans</a> to become a public company on hold after exploring markets outside the U.S.</p>
 <p>The San Francisco-headquartered company Ripple has paused its <a rel="noopener noreferrer nofollow" title="plans" href="https://thebittimes.com/tag/plans.html">plans</a> for an initial public offering (IPO) after reports revealed that the firm started buying back hundreds of millions of dollars worth of shares from its shareholders.</p>
 <p>In an interview with CNBC, Ripple CEO Brad Garlinghouse confirmed the buyback, revealing that the company has repurchased $1 billion of its shares so far. While keeping the option for an IPO open, Garlinghouse emphasized that going public is not an immediate priority right now.</p>
 <blockquote class="wp-block-quote">
  <p>“And we’ll evaluate again [going public], as we have new regulators sitting at the United States SEC.”</p>
  <p>Brad Garlinghouse</p>
 </blockquote>
 <div class="cn-block-related-link">
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Whales respond to Ripple’s $285m buy-back plan: XRP price rally imminent?
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 <p>Addressing the share buybacks, Garlinghouse highlighted the importance of providing liquidity to long-term investors who supported the company since 2012.</p>
 <blockquote class="wp-block-quote">
  <p>“You know, shareholder liquidity is important to me. We have investors that first invested in Ripple in 2012. So they’ve been in this deal for eleven-and-a-half years. And so we want to provide that liquidity, which is one of the reasons why we’ve done these tender offers.”</p>
  <p>Brad Garlinghouse</p>
 </blockquote>
 <p>The decision to halt <a rel="noopener noreferrer nofollow" title="plans" href="https://thebittimes.com/tag/plans.html">plans</a> for a U.S. IPO Garlinghouse attributed to a “very hostile regulator,” adding that the firm “looked at other jurisdictions that have clear rules of the road,” but has not disclosed whether a suitable jurisdiction for going public has been found.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Circle files for IPO in US
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-s-garlinghouse-confirms-ipo-plans-are-on-hold-for-now-tbt76809.html">https://thebittimes.com/ripple-s-garlinghouse-confirms-ipo-plans-are-on-hold-for-now-tbt76809.html</a></p>

Ripple’s Garlinghouse confirms IPO plans are on hold for now

TheBitTimes

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