This Cryptocurrency Wants to Go Public Through an IPO

Typically, when you hear about a company trying to launch a new cryptocurrency, they raise money through venture capital and private funding, or through an initial coin offering (ICO), which is when a company raises funds specifically to create a new token. But now, the company behind Ripple (CRYPTO: XRP), the native token that runs on the Ripple network, is seeking to buck the trend and eventually go public through an initial public offering (IPO).

While the company has not filed a registration statement or anything, Ripple Labs CEO Brad Garlinghouse has said several times that the company could look to go public, a somewhat unique play in the cryptocurrency space. Let's take a look at what it might mean for the Ripple token.

Ripple is currently the fifth largest cryptocurrency with a roughly $46 billion market cap.Similar to Bitcoin (CRYPTO: BTC) and other cryptocurrencies, it's a peer-to-peer network mainly seen as a way to conduct more efficient payments globally, but there are actually several big differences that set Ripple apart from cryptocurrencies like Bitcoin.

Source Fool.com