Ripple Labs Inc. Chief Executive Officer Brad Garlinghouse said an initial public offering is on the table and highly likely, according to Markets Insider.
- Garlinghouse said the possibility of Ripple going public is “very high at some point,” responding to a query.
- The IPO will have to wait until the lawsuit with the Securities and Exchange Commission (SEC) over its XRP offering is resolved.
- The SEC sued Ripple Labs and its officials in December as the regulator said the XRP was a $1.3-billion unregistered securities offering.
- The firm has maintained that XRP is a commodity and is therefore not covered by the regulation of the SEC.
- Regulators have had difficulties in determining which cryptocurrencies should be considered as commodities and which as securities.
- A major shareholder of Ripple last month hinted on a possible IPO once the lawsuit is resolved.
XRP/USD is up 4.00%.