Ripple Announce Share Buy-Back and $15 Billion Valuation

Ripple CEO Brad Garlinghouse announced that the company completed a buy-back of their 2019 Series C shares, valuing it at $15 billion.

In 2019 Tetragon Financial Group led a $200 million Series C funding round for Ripple. However, following the US Securities and Exchange Commission’s lawsuit against Ripple for issuing “unregistered securities”, Tetragon filed a complaint against the blockchain payments company, asking the court to “enforce its contractual right to require Ripple to redeem” the stock held by Tetragon.

While Tetragon’s claim failed in court last, Ripple has now decided to buy back the stock.

Ripple’s 2021 Growth and Looking Ahead to 2022

Along with announcing the buy-back and latest valuation, Garlinghouse tweeted that despite the “headwinds” the company faced in 2021, it was their best year to date in terms of growth and expansion.

On-Demand Liquidity

Ripple’s On-Demand Liquidity (ODL) has been doing particularly well for the company. ODL uses the digital asset XRP to source liquidity, which allows financial institutions who use the service to avoid having to “pre-fund” their accounts for cross-border payments. This makes international payments quicker and cheaper.

Ripple reported that ODL has been growing 130% quarter-over-quarter, and now accounts for almost one-quarter of the transactions on RippleNet.

NFTs and CBDCs on XRP Ledger

Garlinghouse also has high hopes for RippleX in 2022, stating that developers and partners are working on building out “NFTs, CBDCs, interoperability bridges, sidechains and so much more” on the XRP Ledger.

See Also

Will Ripple Victory be Fuel for XRP to Exceed Previous ATH?

In 2021, Ripple announced that a private version of the XRP Ledger would be used for CBDCs in both Bhutan and the Republic of Palau. As well as this, it launched an NFT fund worth $250 million for creators.

What do you think of Garlinghouse’s optimism? Will the SEC lawsuit finally come to an end this year?