Ripple, the company behind XRP, one of the world’s largest cryptocurrencies, made waves when it purchased prime broker Hidden Road earlier this year.
It won’t stop there, according to Ripple Chief Technology Officer David Schwartz.
“Our M&A people are very busy,” the executive told DL News in New York.
“We have multiple potential acquisitions in various different stages, from early stages to late stages.”
Ripple is the creator of the XRP Ledger, a blockchain that runs on XRP. The cryptocurrency had a market value of $124 billion Thursday, making it the fourth-largest, behind Bitcoin, Ethereum, and Tether’s USDT stablecoin.
The company has been aggressively courting traditional finance, pitching XRP and its new stablecoin, RLUSD, as assets designed to facilitate cross-border payments.
In April, Ripple acquired Hidden Road for $1.25 billion. The crypto firm said it would use RLUSD as a collateral across Hidden Road’s suite of brokerage services.
Previously, Ripple acquired the crypto custody firms Metaco for $250 million and Standard Custody for an undisclosed amount.
In January, a spokesperson told DL News the firm was “actively seeking companies to purchase.”