Ripple’s XRP has been embroiled in a legal battle with the Securities and Exchange Commission and the company could IPO as soon as the legal proceedings discontinue.
- Many blockchain solutions are set to go public between 2023 and 2023.
- Blockchain finance provider Ripple has announced its planned IPO in the future.
- A possible IPO may come with both advantages and disadvantages in the way Ripple handles its technology.
- This milestone move will create a ripple effect on other digital assets, potentially driving a wave of IPOs.
A few weeks ago a large shareholder, SBI Group CEO Yoshitaka Kitao in Ripple stock claimed that the company is looking to go public after the legal proceedings discontinue, this looks to be holding some weight as he is the largest investor in the company.
However, Kitao’s analysis comes from previously stated statements from Ripple CEO Brad Garlinghouse.
“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.“
Ripple is behind the cryptocurrency of the same name. That cryptocurrency trades under the XRP ticker and has been performing well this year despite the legal battle. As of Thursday afternoon, the token was up 2.1% and is up 523.1% since the start of 2023.
Investors that are still wary about Ripple due to the ongoing lawsuit with the SEC have other crypto options to choose from.
On the flip side
If Ripple can pull off this IPO immediately after the legal battle with the SEC, it will serve as a major boost for the crypto sector. As Yoshitaka Kitao has stated, this year will see many crypto/blockchain IPOs.
SBI Group already has plans to take R3, another blockchain solution company, to the public immediately after Ripple. Most blockchain solutions will begin to go public as no one wants to be left behind.