Singapore’s DBS Bank, Southeast Asia’s largest bank, has valued blockchain company Ripple at an impressive $11.3 billion, according to Whale Insider on X. This fresh valuation comes amid growing excitement about Ripple’s future, with whispers of a potential initial public offering (IPO) by 2026.
Ripple has been aggressively developing in the Asian region, with one of the recent developments being the opening of its XRP Ledger Accelerator Program in Singapore.
The program, which is in collaboration with fintech incubator Tenity, is intended to draw Web3 startups and developers to develop on Ripple blockchain technology, bolstering its status as a full-stack blockchain solution provider.
CEO Brad Garlinghouse hinted at an IPO earlier this year but made it clear that going public is not an immediate priority. He explained that Ripple is fortunate to grow organically without needing to raise funds through an IPO. Still, the company is open to the idea when the timing feels right.
In the meantime, the protracted legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) is about to reach its conclusion. Garlinghouse affirmed that Ripple will abandon its last appeal, and this case is over. This move will enable Ripple to concentrate entirely on innovation and the creation of what it terms the Internet of Value.
Nevertheless, there are still issues with Linqto, a privately held investment platform that offered Ripple shares on secondary markets without any direct connections to the company, creating confusion among investors.
As the legal barriers diminish and the regional growth is robust, Ripple will have a strong future.
Also Read: Mercado Bitcoin Teams up with Ripple to Tokenize $200M on XRP Ledger
