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Ripple Client dLocal Files for IPO in the US

Finance

u.today 05 May 2021 12:46, UTC
  
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Ripple customer dLocal that conducts payments and remittances in emerging markets in Asia, Africa and Latin America via Ripple’s ODL, has been reported to have filed for an initial public offering in the USA.

RippleNet’s client dLocal files for IPO confidentially

Citing, confidential sources, Bloomberg has reported that dLocal payments company intends to go public in the US.

The US listing may take place later this year, according to the Uruguay-located company Montevideo, that works on dLocal’s IPO with several banks, including JP Morgan Chase giant.

The time of the IPO is not fixed yet and may still be shifted to an earlier or later date. Neither dLocal nor anyone from JP Morgan has commented on this matter yet.

The expected market value of dLocal is $5 billion.

dLocal expands to new markets, hires former Goldman Sachs executive

As reported by U.Today earlier, the company had announced its expansion to three new markets – the Philippines, Vietnam and Malaysia. dLocal will enable local consumers to buy from global merchants via e-wallets.

Besides, recently dLocal took another significant step. It hired a former top executive of Goldman Sachs and JP Morgan giants, Sumita Pandit, as the Chief Operating Officer.

The former COO of the company, Jacobo Singer, had been promoted to the position of the president.


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