{"id":55163,"date":"2019-08-09T21:00:23","date_gmt":"2019-08-09T19:00:23","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=55163"},"modified":"2019-08-09T20:59:58","modified_gmt":"2019-08-09T18:59:58","slug":"ripple-ceo-more-investments-acquisitions-moneygram-deal","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ripple-ceo-more-investments-acquisitions-moneygram-deal\/","title":{"rendered":"Why is Ripple CEO Garlinghouse Looking to Expand?"},"content":{"rendered":"\n
Despite XRP’s dramatic underperformance over recent months, Ripple Labs is looking to expand its network, presumably planning on leveraging the capital it secured from the programmatic sales of its go-to crypto asset. <\/p>\n\n\n\n
Speaking to Yahoo Finance<\/a>, Brad Garlinghouse, the chief executive of Ripple with a seeming cult following on Twitter, explained that his firm is currently working on “multiple” deals, meaning investments and acquisitions, with an unnamed group of companies. <\/p>\n\n\n\n The Ripple chief explains that he believes that his firm is in a “very strong position”, citing growth in Ripple’s business streams and a “strong balance sheet”. Thus, it would be illogical for the company not to take advantage of its position. <\/p>\n\n\n\n While Garlinghouse didn’t drop any names, he explained that Ripple is looking for business relationships that will allow it to “accelerate its growth” and give it more of a chance to serve its customers’ needs. <\/p>\n\n\n\n Garlinghouse’s statements come hot on the heels of a massive deal with Moneygram, one of the world’s largest cross-border and money-transfer firms. As reported by Ethereum World News previously<\/a>, in June, the fintech startup joined hands with the firm when it invested $30 million for a 10% stake. Moneygram retains the right to request for another $20 million from Ripple Labs anytime over the next two years.<\/p>\n\n\n\nThe Moneygram Deal<\/strong><\/h2>\n\n\n\n