Ripple Ramps Up Investment Plans But XRP Continues to Tank
San Francisco based fintech firm Ripple is reportedly working on a number of potential investments and acquisitions following its acquisition of MoneyGram. Meanwhile its native token, XRP, continues to slide in an altcoin avalanche that is starting to gather pace.
Ripple Eyeing New Investments
According to a report by , Ripple boss Brad Garlinghouse has said that the company is working towards multiple acquisitions. He said that the firm was confident in the wake of its $30 million investment in money transfer business MoneyGram;
“We’re in a very strong position, our business is growing strongly, we have a strong balance sheet, and I intend to press our advantage. Anything we can do to accelerate our growth and give us more capabilities that serve customer needs is a good place to be.”
No further details were offered by Garlinghouse who added that deals are always very hard to predict. The was a big one for the blockchain firm as, in addition to the 10 percent stake, there is an option to invest a further $20 million at the same price over the next two years.