Amid the slowdown in the global financial technology market, rumor has it that Ripple Initial Public Offering (IPO)a highly anticipated event, could be affected by a potential delay.
Ripple IPO Could Be Delayed Due to Fintech Slowdown
Dushyant Shahrawat, Head of FinTech Investment Banking at Rosenblatt Securities, recently suggested a potential delay in Ripple’s IPO. This is due to the current bearish state of both public and private markets. Fintech walk.
In an interview with Global Markets reporter Jill Malandrino on NASDAQ, common According to XRP community member Crypto Eri, the director was open-minded in shedding light on the performance of the fintech market. He pointed out the decline in performance of some large fintech companies when asked about the state of the fintech sector.
He pointed out that the fintech index of the top 55 fintech companies has fallen by 60%. He also added that the index is currently at its lowest level in the last two to three years.
Shahrawat said:
So the fact that the most well-known names in fintech on the public market are still down significantly, and are at their lowest levels in three years, is not a good sign for the market.
According to Shahrawat, investment options are being changed by the decline in performance of companies of all sizes, from late-stage unicorns to early-stage startups. As a result, there is a growing sense of caution in the fintech sector, especially when it comes to initial public offerings (IPOs).
Therefore, cryptocurrencies that are planning an IPO could be delayed due to the poor performance of these fintech companies. In addition, Shahrawat mentioned well-known names like Ripple And Circleas both companies have announced plans to go public by 2024.
“You can walk down the halls here, you have Circle, Ripple, all the private fintech companies, the unicorns, that were waiting in the wings to go public. That timeline (to IPO) has been pushed back a little bit,” the executive said.
This development highlights the interdependence of these activities by reflecting broader developments affecting fintech companies and the cryptocurrency market. In addition, it also influences global economic factors on investment options and corporate policy.
Crypto Analyst on IPO
According to Wall Street Specialist Linda P. JonesRipple’s IPO could happen in 2024. She added that this timeline would be the best for the cryptocurrency company to launch its IPO. However, she claimed that if the IPO does not happen on time, it will be postponed to 2025.
Linda said:
I think there is an opportunity if Ripple wants to go public next year, mid-May would be a great time, around May 15th. If that doesn’t happen, then I think it probably won’t happen until 2025.
In light of the current market situation, Ripple stakeholders and the broader cryptocurrency community should reassess their expectations regarding the timing of the IPO. However, as market volatility continues, further updates on Ripple’s plans are expected as the market develops.
Featured image by iStock, chart by Tradingview.com