The lawsuit closure between Ripple and the SEC, as well as the changing atmosphere in the US regulatory landscape, will benefit the entire crypto industry, said the former’s president, Monica Long, during the current Paris Blockchain Week conference.

However, she poured cold water on recent reports that her company plans to go public anytime soon.

Long began by providing more details on the recent deal between Ripple and the prime broker Hidden Road, in which the former spent $1.25 billion to acquire the latter.

The PR described Hidden Road as ‘one of the fastest-growing prime brokers around the world, offering institutions a one-stop-shop of advanced services including clearing, prime brokerage, and financing across foreign exchange (FX), digital assets, derivatives, swaps, and fixed income.’

“We are at an inflection point for the next phase of digital asset adoption – the US market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end, and the market is maturing to address the needs of traditional finance,” said Brad Garlinghouse, CEO of Ripple.

Long said the $3 trillion yearly volume achieved by Hidden Road will help both entities bring institutions into the cryptocurrency space through a regulated and established joint venture.

Hidden Road’s platform will leverage Ripple’s recently launched stablecoin, RLUSD, as collateral across its prime brokerage services.

Separately, Long highlighted the end of the lawsuit between Ripple and the SEC, saying it was a ‘big relief’ and it will allow the company to move on and expand its business operations.

On the question about an IPO, something that CEO Brad Garlinghouse has talked about a few times in the past, Long seemed a lot less convinced than the chief exec. She said companies typically want to go public for exposure and deeper liquidity, while Ripple doesn’t need either.

Consequently, the firm will remain focused on building a private business for now. Nevertheless, she didn’t completely dismiss the idea of an IPO in the future, if market conditions changed or the company required additional capital and liquidity.

The post Ripple Shelves IPO Plans Even After SEC Lawsuit Closure, Says President at Paris Blockchain Week appeared first on CryptoPotato.