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Ripple Processed $13 Trillion in Payments Last Year, CEO Says

Ripple CEO Brad Garlinghouse said the blockchain payments company handled $13 trillion in annual payment volume and has no immediate plans for an initial public offering.

Summary

Ripple CEO Brad Garlinghouse said Ripple processed $13 trillion in payments over the last year, highlighting the scale of the company’s blockchain-based payments business. He also said the company has no immediate plans for an initial public offering, indicating that a public listing is not currently a near-term priority. The statement points to Ripple’s continued focus on expanding its payments infrastructure rather than pursuing a stock market debut.

Terms & Concepts
  • Initial public offering: The process through which a private company lists its shares on a public stock exchange for the first time.
  • Blockchain payments: Payment transfers that use blockchain networks to move value, often aiming to improve settlement speed and cross-border efficiency.
  • Cross-border payments: Transactions sent between parties in different countries, a major use case for crypto-enabled financial infrastructure.