Ripple says it is ‘actively’ looking for acquisitions as XRP prices rise – DL News

As the price of the XRP token rises, Ripple is aggressively ramping up its deal-making efforts.

The cryptocurrency company owns more than $143 billion worth of XRP – most of it in circulation Warranty – According to her Latest financial certificate.

Now, with Encryption is a top priority in the United Statesthe company wants to use this money for business.

“Ripple is actively seeking to acquire companies,” a company spokesperson said. DL News. “We have been active in the M&A space and expect to be even more active going forward.”

Trump World

The election of Donald Trump has galvanized the cryptocurrency industry as the president-elect appointed crypto-friendly players to key positions in his administration.

Bankers said they saw a slight increase in… Mergers Across various sectors, aided by what they see as a more permissive regulatory environment.

In the past two years, Ripple has acquired cryptocurrency custodians Mitaku For 250 million dollars and Standard nursery For an undisclosed amount.

But which sectors are ready for merger?

Ripple stablecoin takes off

As the stablecoin market heats up and new entrants compete for the dominance of the digital dollar, at least one Ripple executive expects a major deal-making phase in the space this year.

The high cost of compliance for operating in the U.S. is sparking a “war of attrition” among smaller stablecoin startups, said Jack MacDonald, president of the stablecoin cryptocurrency company. DL News. McDonald was the CEO of Standard Custody before it was acquired by Ripple.

“I’ve already had conversations with some startups and decided this was going to be a tough business to compete in, and they’re already offering to sell their company,” McDonald said, referring to the competitive landscape.

He declined to provide details of his discussions with those companies, adding only that Ripple would be “specific” in its deal-seeking process.

However, the meetings are still ongoing.

“I’ve gotten contacted twice in the last two weeks from small startups that people want to meet,” he said.

ripple decreased entered the competitive stablecoin space in late December, launching its token RLUSD on a few exchanges.

The limited offering has already created buzz in the market.

Over the past day, stablecoin RLUSD registered trading volume seven times larger than PayPal’s offering, according to a cryptocurrency price tracker. Queen Gekko.

But Ripple is far from being a serious competitor in this space.

At just $72 million, RLUSD represents roughly an eighth of PayPal’s total stablecoin value and doesn’t come close to stablecoins like Tether and Circle.

Tether’s stablecoin is valued at $137 billion, while Circle’s stablecoin is valued at $46 billion.

Liam Kelly is a correspondent based in Berlin DL News. Got a tip? Send him an email at liam@dlnews.com.