By George Ward
After the recent favorable court ruling, Monica Long, Ripple’s president, revealed the company’s intention to re-enter the US crypto market. The court ruling had specified that the blockchain firm’s native token, XRP, is not a security.
Meanwhile, Ripple has emerged as one of CNBC’s top 200 fintech firms after the media outlet evaluated the blockchain company’s key performance metrics that have seen it record significant growth in the international markets.
Ripple Eyes Another Attempt At The US Market
While speaking during a recent interview with CNBC, Ripple President, Monica Long, revealed important details about the firm’s plans for the US market. Long affirmed that the company’s recent court victory against the US SEC is one of the reasons the firm is attempting to re-enter the US market.
In addition, Long stated that the firm is pleased with the newfound clarity brought about by the court ruling. She said, “The judge’s ruling in our case has provided much-needed clarity that XRP is not considered a security,”
Long noted that this decision gives Ripple the confidence to chart a clear path for its future operations. She further said that the firm is eager to re-enter the US market again after ceasing operations due to the court case.
As Ripple plans to re-enter the US market, it continues to enjoy success in other regions. The company has recorded significant growth in international markets, particularly in areas with well-defined regulatory guidelines.
During the interview, Long confirmed this fact and revealed that a substantial portion of their growth has occurred outside the United States. According to her, regulatory clarity in jurisdictions like the UK, Singapore, Europe, Dubai, and the Middle East has contributed to Ripple’s success in global markets.
These countries have created a favorable environment for Ripple’s business, particularly the retail payments sub-sector. Consequently, these regulatory frameworks allow Ripple to explore growth opportunities, ultimately contributing to the company’s expansion and international prominence.
Making The World’s Top 200 Fintech Lists
In another remarkable achievement for Ripple, CNBC named the blockchain company on its list of the world’s top 200 fintech companies; it is the first time the media outlet will be compiling such a list. This milestone reflects Ripple’s recent accomplishments and growing prominence in the global fintech sector.
The blockchain firm was among the 1,500 firms evaluated by Statista using nine market segments. Additionally, the assessment criteria included key performance indicators (KPIs), allowing for a thorough examination of each firm’s position in the industry.
Revenue figures, user base metrics, and the total funding raised by the fintech firms under consideration were among the KPIs the market data platform examined. These factors were critical in determining the fintech companies that demonstrated exceptional performance, innovation, and impact.
Statista’s comprehensive approach enabled a fair and objective comparison of various FinTech firms operating under distinct business models within the ever-changing fintech landscape. Following its inclusion in this list, Ripple has established itself alongside industry giants such as PayPal, Ant Group, Tencent, Klarna, Stripe, and Revolut.
While tweeting about the development, the Ripple president expressed her pride and admiration for the Ripple team. She stated that their dedication and hard work contributed to this remarkable feat.