Ripple Ready For Business Expansion To UAE And Switzerland

Ripple cross-border payment companies, will spread their wings to various countries. (Photo; Doc. InvestX)

JAKARTA - Ripple Labs CEO Brad Garlinghouse has announced an ambitious company plan to leverage substantial cash reserves of US$1 billion (Rp14.9 trillion) for the expansion of Ripple services. In a speech at Dubai Fintech Summit, Garlinghouse highlighted Ripple's aspirations to go beyond its current role as a payment platform and liquidity provider.

Garlinghouse is optimistic that Ripple's next development stage will be outside existing services. He mentioned a number of fundamental points from blockchain technology including liquidity and tokenization. Ripple boss is committed to getting more than just liquidity and cross-border payment payments.

In addition, Garlinghouse also encourages Ripple to continue to expand to other areas through organic growth or strategic acquisitions. Ripple plans to allocate most of their funds to markets that support blockchain technology.

Two names of countries were mentioned by Ripple CEOs, namely the United Arab Emirates (UAE) and Switzerland. According to him, the two countries have conducive regulations in supporting business investment. He also emphasized the importance of the two countries for Ripple in strengthening its position at the global level.

With cash reserves of more than one billion US dollars, Ripple has sufficient resources to drive internal growth organically and pursue growth through strategic acquisitions. Garlinghouse affirms the company's commitment to using financial resources by seeking opportunities that are in line with Ripple's expansion goals.