Distributed ledger tech firm Ripple has nabbed a $15 billion valuation after a personal inventory buy-back, the corporate stated Monday.
The corporate is repurchasing fairness shares from traders in its Sequence C, which incorporates Tetragon, an organization that unsuccessfully sued Ripple final yr. On the time of the earlier elevate, Ripple’s valuation stood at $10 billion.
“The buyback locations Ripple’s new valuation at $15B and displays Ripple’s robust place available in the market and world firm momentum – Ripple’s world enterprise has grown exponentially and 2021 was the corporate’s finest yr up to now,” the corporate stated. The corporate says that its RippleNet platform has seen transactions double in 2021. It additionally signed Bhutan and Palau as CBDC shoppers.
The transfer comes amid Ripple’s ongoing authorized battle with the SEC, which dates again to December 2020. The SEC accused Ripple of issuing and promoting unregistered securities within the type of the digital asset XRP.