Crypto Biz: How Ripple quietly convinced Wall Street
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Ripple’s post-SEC rebound is drawing Wall Street backing, including a $40 billion valuation deal with downside protection— and some investors betting on XRP.
It has been a long and arduous journey for Ripple. After emerging from a multiyear battle with the US Securities and Exchange Commission, the blockchain-based payments and infrastructure company is pressing ahead with broad ambitions to unify custody, treasury and prime-brokerage services, each underpinned by blockchain technology and stablecoins.
Despite the bruising legal fight and the reputational damage that came with it, Ripple has still managed to win over some of Wall Street’s biggest players.
This week’s Crypto Biz looks at how Ripple secured a striking $40 billion valuation, and why some of its backers are quietly placing bets on an XRP (XRP) surge.
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