Ripple CEO Bradley Garlinghouse has gradually made XRP investors suspect that the payments startup is on track to announce multiple acquisitions.
According to Garlinghouse, after massive fundraising show that the San Francisco-based company received $ 200 million in Series C funding, Ripple is looking to develop its business strategy in the current economic landscape.
â€œWe need to be more prudent about business decisions, but weâ€™ll also probably, because of the strengths weâ€™re coming from, look at how we strategically grow the business and, you know, look at deals, look at investments, and potential acquisitions in the coming months.â€
On the famous XRP-centered forum XRP Chat, the comments from the Ripple leader has investors pondering what’s on the table.
According to Garlinghouse, the global pandemic presents significant challenges for all industries, including the cross-border payments sector, but he remains confident that business will prosper.
â€œThe volatility of the economy creates, you know, some uncertainty for global payments. On one hand, thereâ€™s no doubt that we live in a global interconnected world. Thereâ€™s a lot of migrant workers, and you know, the pandemic may slow down some of that, but thereâ€™s no doubt that weâ€™ll continue to move money around the world. I donâ€™t think thatâ€™s gonna change anytime soon.â€
In September of last year, Ripple purchased the crypto-trading company Algrim and the start-up Logos for decentralized finance payments. It has also invested $50 million in MoneyGram and now has approximately 10% of the remittance firm’s stake.