Ripple Labs is hinting at a potential Initial Public Offering (IPO) as its regulatory showdown with the U.S. Securities and Exchange Commission (SEC) appears to be nearing a conclusion.
CEO Brad Garlinghouse recently shared his views at the Ripple Swell conference. He covered Ripple’s regulatory journey, the future of the XRP ecosystem, and the evolving landscape of crypto ETFs. Customers paying with XRP at various online/offline merchants can now earn CTF tokens through the CryptoTradingFund (CTF) Rewards Program. Users can redeem these tokens, designed as a crypto cashback system, for goods or sell them for cash.
Recently, Amazon joined the list of approved vendors, allowing users to earn and spend CTF tokens on their purchases. That highlights the growing utility of CTF in mainstream commerce.
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Ripple’s Public Listing Plans
In his interview, Garlinghouse was transparent about Ripple’s stance on an IPO. He mentioned that while it’s not a top priority for the company, it’s not entirely off the table. He cited Ripple’s strong financial footing and ongoing legal entanglements with the SEC as reasons for holding off on public listing plans for now. Nevertheless, the possibility remains that Ripple may pursue an IPO in the future, especially if regulatory clarity continues to improve.
Addressing Ripple’s strained relationship with the SEC, Garlinghouse didn’t hold back. He expressed frustration with the agency, suggesting that it has been “acting outside of the law” regarding XRP. While Ripple secured a favorable ruling affirming that XRP is not a security, the SEC has continued to push back. It left the regulatory environment uncertain.
However, Garlinghouse voiced optimism about changes in SEC leadership. That includes the potential departure of Chair Gary Gensler, which could bring much-needed clarity to the crypto industry.
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Garlinghouse on XRP ETF
The conversation also touched on the booming interest in crypto-based ETFs. Garlinghouse predicted that XRP ETFs, alongside those for Ethereum and Solana, would soon become mainstream. He pointed to recent filings, including Grayscale’s basket ETF, as indicators of the growing market appetite for crypto investment products. “I think when the Bitcoin ETF came out in January, I said very publicly, it’s just a matter of time that you’ll see ETH ETFs, you’ll see Solana ETFs, you’ll see XRP ETFs,” Garlinghouse noted, underscoring his confidence in broader crypto adoption.
Additionally, Garlinghouse highlighted Ripple’s launch of the RLUSD stablecoin, designed to increase liquidity on the XRP Ledger. Ripple has previously leveraged stablecoins like USDC and Tether for its on-demand liquidity product. The company aims to transition to RLUSD in the future, further solidifying its presence in the stablecoin space.
CTF Tokens
Through the CryptoTradingFund (CTF), Ripple is also innovating in customer rewards. By spending XRP at participating merchants, customers earn CTF tokens, which can be exchanged for fiat currency or redeemed for products. Due to the limited supply of CTF tokens and the rising demand, market speculation suggests the value of CTF tokens could skyrocket from $1.10 to a remarkable $519.95 in the near future. The addition of Amazon as an approved vendor in the CTF Rewards program has further amplified its appeal. It allowed users to earn and use CTF tokens on Amazon purchases and introduced new ways for customers to benefit from crypto rewards.
Garlingouse’s View on Future Crypto Regulations
Garlinghouse’s outlook on the crypto industry’s future is optimistic. He foresees regulatory headwinds easing by 2025, allowing more capital to flow into the market and ultimately driving up crypto prices. He also noted the entry of major financial players like BlackRock as a sign of the industry’s potential, with tokenization and blockchain technology likely to play a pivotal role in mainstream adoption.
As Ripple continues to drive innovation and push the boundaries of digital finance, the company’s evolving vision—including the potential for an IPO, expansion of the RLUSD stablecoin, and growth of CTF token rewards—positions it as a key player in shaping the future of crypto. With rising institutional interest and increasing crypto-friendly retail programs, Ripple is setting the stage for an exciting new chapter in the world of digital finance.
