The controversial company Ripple has recently made their intentions clear with a declaration that they will be making new investments and purchasing other companies in an effort to accelerate already rapid growth. This positive news comes hot on the tail of Ripple’s profitability report for Q2, which reflected strong growth in the token sales.
Most of the progress that was made in Ripple’s quarterly sales were a result of its institutional sales, which is right in line with their mission to cater to the modern banking industry. The power that those profits have given them is enabling them to pursue aggressive moves that are aimed at the expansion of their business and the adoption of their currency.
Also included in Ripple’s plans are intentions to ramp up their partnership with Moneygram, which will see increased involvement in the currency exchange space. The CEO of Ripple expressed interest in exercising its option to invest $20 million more in MoneyGram at the original purchase price.
The Big Picture
It’s clear that ultimately, Ripple plans to thrive by being involved in everything that it can when it comes to the financial sector and cryptocurrency and how the two industries can possibly work together. Ripple investors are hoping that this strategy pays off after a brutal couple of years for the cryptocurrency’s price and cryptocurrencies in general.
Regardless of the price of Ripple and the sentiment toward blockchain tech, it seems imminent that Ripple will continue to roll out partnerships, acquisitions, and other actions that make their intended position clear.