Ripple (XRP) Continues Global Expansion Amid SEC Trial

Although 2024 has been difficult for XRP’s performance so far, Ripple has continued its global expansion as part of its trial with the United States Securities and Exchange Commission (SEC). Indeed, the company seeks to continue its growth trajectory. Specifically, the UK, India and Canada are attractive regions for this expansion.

The company is currently seeking to integrate new positions regarding its presence in various countries around the world. Although previous appointments sparked rumors of a Ripple IPO, the company has expressed its hesitations. Currently, the SEC trial remains the most significant development facing Ripple Labs this year.

Ripple
Source – PYMNTS.com

Also read: Ripple: 5 reasons why XRP could rise again in 2024

Ripple Labs is seeking global expansion into India, UK and Canada.

Nearly a month into the new year, XRP has yet to live up to expectations. However, the asset’s performance potential throughout this year is undeniable. Subsequently, with numerous legal proceedings ahead, the company continued to focus on an international presence.

Indeed, Ripple has continued its global expansion amid the ongoing SEC lawsuit. Specifically, Ripple Labs took to X (formerly Twitter) to announce the hiring of a slew of new positions. Among these, Ripple is looking to hire a Senior Product Manager, DeFi for its London expansion, a Senior Software Engineer for its Bangalore expansion, and a Senior Software Engineer for its Toronto expansion.

Also Read: Ripple: When Can XRP Hit $394-$594 Range?

This follows a recent round of hires that took place in September 2023. Then, they added more than 55 people across a multitude of areas, including corporate development, engineering, global operations and more. ‘others. Overall, it highlights a continued focus on growth outside the United States. Especially since the ongoing lawsuit with American regulators threatens its growth prospects in the country.

After a massive recruitment effort, the company began looking for a senior shareholder communications manager. Subsequently, many began to wonder if this would precede an initial public offering filing. However, Ripple CEO Brad Garlinghouse noted that the IPO was not an immediate priority for the company.

Conversely, this global expansion effort comes just months before the planned SEC lawsuit. In 2023, the regulator suffered significant losses during its years-long legal dispute. Among these was the court’s ruling that secondary market sales of XRP did not constitute investment contracts. Subsequently, Garlinghouse and executive chairman Chris Larson were cleared of charges brought against them by the regulator.


reference: watcher.guru

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