Ripple CEO: Plans to Use $1 Billion in Cash Reserves for Expansion and Acquisitions

Ripple CEO Brad Garlinghouse announced in a speech at the Dubai Fintech Summit last week that "Ripple has more than $1 billion of cash on its balance sheet and wants to use it for organic growth internally as well as inorganic growth through acquisitions. Brad Garlinghouse said Switzerland and the United Arab Emirates (UAE) are technology-friendly markets where Ripple is looking for companies to acquire.