Raising $500 million, with a valuation of $40 billion, Ripple clearly states: Not planning an IPO for now, fully betting on business expansion

After completing a funding round of up to $500 million, Ripple explicitly stated that there are no plans to initiate an IPO in the short term. The company’s management believes that the current strong balance sheet and ample cash reserves make going public no longer an “imminent choice,” and the focus will continue to be on business execution, mergers and acquisitions, and core product expansion.

Ripple President Monica Long pointed out in an interview on Bloomberg Crypto Channel on January 6 that the company has not set a specific timetable for going public. She emphasized that companies often choose an IPO to obtain growth capital and liquidity, but Ripple currently does not lack capital support. “Without pressure from the public markets, we have greater strategic flexibility.”

This funding round was completed in November 2025, bringing Ripple’s overall valuation to approximately $40 billion, a significant jump from the implied valuation of $11.3 billion associated with stock buybacks earlier in 2025. Long stated that the company is “very satisfied” with the results of this funding round. The round attracted heavyweight institutions from both traditional finance and the crypto space, including Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace, further strengthening Ripple’s market endorsement at the institutional level.

With the funds in place, Ripple’s management focus shifts to execution, especially the integration of acquisitions made over the past year. In 2025, Ripple continued to expand its institutional-grade infrastructure, most notably acquiring top broker Hidden Road for $1.25 billion. This deal makes Ripple the first crypto-native company with a global multi-asset prime brokerage business, covering trading, financing, and clearing of digital assets and foreign exchange.

Additionally, Ripple acquired GTreasury for $1 billion to enter the enterprise financial management sector; purchased payment platform Rail for $200 million; and completed the acquisition of custodian Palisade to further enhance compliance and custody capabilities. Ripple CEO Brad Garlinghouse previously stated in November that the pace of mergers and acquisitions would slow starting in 2026, with strategic focus shifting to integration and scaled growth.

Beyond infrastructure, Ripple continues to advance stablecoins and network layer development. The company’s stablecoin RLUSD is expected to surpass $1 billion in market value by the end of 2025, and new features for the XRP Ledger—including lending and privacy tools—are expected to go live this quarter. Overall, Ripple is accelerating its long-term competitiveness in crypto payments, stablecoins, and institutional services with a “no IPO” approach.