Blockchain payments giant Ripple has launched a new share buyback program, valuing the company at $50 billion. Sources indicate Ripple plans to repurchase up to $750 million in shares from investors and employees, with the initiative running through April.
This follows a previous $1 billion buyback attempt in September that saw low participation. At that time, Ripple was valued at $40 billion, but shareholders were reportedly reluctant to sell.
The company has reiterated its stance against taking Ripple public in the United States, despite a trend of other crypto firms pursuing IPOs.
In conjunction with the buyback news, XRP, Ripple's associated digital asset, experienced a slight rebound, trading around $1.39. However, XRP continues to face challenges, with recent losses recorded over the past week and two weeks.