Ripple (XRP) Continues Global Expansion Amid SEC Trial

Joshua Ramos
Source: Crypto News

Although 2024 thus far has been a difficult one for the performance of XRP, Ripple has continued its global expansion amid its US Securities and Exchange Commission (SEC) trial. Indeed, the company is seeking to continue its growth trajectory. Specifically, the UK, India, and Canada are regions of interest for that expansion.

The firm is currently seeking to onboard new positions regarding its presence in various countries across the globe. Although previous appointments had brought about rumors of a Ripple IPO, the company has stated its hesitancy. Currently, the SEC trial remains the most consequential development that Ripple Labs is facing this year.

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Also Read: Ripple: 5 Reasons XRP Could Still Surge in 2024

Ripple Labs Seeking Global Expansion Into India, the UK, and Canada.

Almost one month into the new year, and XRP has not yet lived up to expectations. However, the potential for the asset’s performance throughout this year is undeniable. Subsequently, with a host of legal proceedings ahead of the firm, it has continued to keep its focus fixed 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 its recruitment of a host of new positions. Among those, Ripple is searching to onboard 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 To $594 Range?

This follows a recent string of hirings that took place in September 2023. Then, they added more than 55 people across a plethora of fields including Corporate Development, engineering, Global Operations, and many more. Overall, it pointed to a continued focus on growth outside of the United States. Especially as the ongoing lawsuit with American regulators has threatened its growth prospects in the country.

After its robust hiring, the company began to seek out a Shareholder Communications Senior Manager. Thereafter, many began to question if that would precede a filing for an Initial Public Offering. However, Ripple CEO Brad Garlinghouse noted that going public is not an immediate priority for the firm.

Conversely, this global expansion effort takes place just a few months before its slated trial against the SEC. In 2023, the regulator suffered some key losses in its years-long legal conflict. Among those was the court decision that XRP sales on the secondary market were not investment contracts. Thereafter, Garlinghouse and Executive Chairman Chris Larson were cleared of accusations that the regulator brought against them.