In a recent CNBC interview, Ripple President Monica Long announced the firm’s intentions to re-engage with the US market. This development follows the major court ruling clarifying that XRP, Ripple’s affiliated digital currency, is not considered a security in US.
Long expressed her enthusiasm for the clarity the ruling provides. She explained, “It’s been a couple weeks now since the judge’s ruling in our case, providing clarity that XRP is not a security. We’re very happy about it because we now have clarity how Ripple will operate its business going forward. And we are re-engaging with the US market.”
However, Ripple’s operational strategy is not solely focused on the US. The firm has experienced significant growth in international markets, particularly where there is clear regulatory guidance. “A lot of our growth over the years has been outside the US. I think that is reflective where there is regulatory clarity, places like the UK, Europe, Singapore, Dubai and the Middle East. That’s where we see a lot of growth potential for our business around payments,” Long added.
In particular, Ripple’s expansion in the UK has been noteworthy, with the company considering further investments. The size of their office in London has more than doubled, indicating significant growth.
Long further stated that the fintech runs other key offices in Singapore, Dubai, and Sao Paulo, reflecting their diverse customer base and international reach. “We have a pretty large customer base in Europe, the Middle East, Dubai is another key office as well as Singapur,” she added.
Ripple Earns Spot On CNBC’s List Of Top 200 Fintechs
Adding to Ripple’s recent achievements, the company has been honored as one of the world’s top 200 fintech companies in CNBC’s inaugural list. The selection process, carried out by independent research firm Statista, evaluated over 1,500 firms across nine different market segments, looking at key performance indicators including revenue, user numbers, and total funding raised.
Ripple now joins the ranks of other major companies in the sector such as Ant Group, Tencent, PayPal, Stripe, Klarna, and Revolut. Monica Long shared her pride at this recognition on Twitter, “So proud of team Ripple on making CNBC’s inaugural World’s Top Fintech Companies list. We’re one of only a handful of crypto companies honored – a feat we don’t take lightly.”
The methodology used by Statista involved a complex scoring model which considered general KPIs and segment-specific KPIs, ensuring a fair comparison across diverse business models within the fintech space.
For Ripple, making the list is a testament to their global reach, innovative technology, and the effectiveness of their business model. As the firm continues to grow and expand, this recognition serves as a reaffirmation of the fintech’s impact on the industry at large.
At press time, the XRP price stood at $0.6821.
Featured image from Bloomberg, chart from TradingView.com