Singapore’s DBS Bank, Southeast Asia’s largest lender, has pegged blockchain firm Ripple’s valuation at a staggering $11.3 billion, according to Whale Insider on X.
(Source: Whale Insider on X)
The same post also includes buzz, which hints at a potential initial public offering (IPO) by 2026.
This valuation update comes after the blockchain firm’s recent strategic expansion into Asia, including the launch of its XRP Ledger Accelerator Program in Singapore in partnership with fintech incubator Tenity.
This partnership is expected to attract Web3 startups and developers to build on the XRP Ledger.
Ripple’s Legal Troubles End, But New Challenges Emerge
If its IPO buzz is true, the blockchain company would position itself not as a crypto payments player, but as a full-stack blockchain solutions provider ahead of its possible public debut.
In March, CEO Brad Garlinghouse hinted at a possible initial public offering (IPO) for the blockchain giant but clarified that going public is “not a huge priority” for the company at this stage.
Garlinghouse admitted that the firm is “at a stage where we could consider that,” however, “but it isn’t a huge priority.”
Unlike many firms that pursue IPOs primarily for fundraising, Garlinghouse noted that the company has been “in a fortunate position to grow the business organically.”
Garlinghouse said, “This is an industry that will finally be able to thrive in the United States, the world’s largest economy.”
Garlinghouse clarified this matter, saying, “Understandably, there have been many questions from those who believed they were buying Ripple shares from Linqto, and what happens next. What we know from our records is Linqto owns 4.7M shares of Ripple, solely purchased on the secondary market from other Ripple shareholders (never directly from Ripple).”
“Apart from Linqto being a shareholder, Ripple has never had a business relationship with Linqto, nor have they participated in our financing rounds. We stopped approving more Linqto purchases on secondary markets in late 2024 amid growing skepticism,” he said.
The multi-layer legal conflict between Ripple and the U.S. Securities and Exchange Commission (SEC) is reaching its conclusion. CEO Brad Garlinghouse confirmed that the company will withdraw its remaining appeal in the case, effectively bringing the landmark lawsuit to a close.
He said, “Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal, as they’ve previously said. We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in.”
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