Ripple has launched a share buyback program worth up to $750 million, according to Bloomberg. The tender offer targets early investors and employees and will remain open until April. The buyback implies a company valuation of nearly $50 billion, a 25% increase from the $40 billion valuation set during its November 2025 funding round. Notably, this valuation rise occurred amid a broader crypto market downturn, with Bitcoin and XRP both dropping 30% to 40% over the same period.
Buyback Structure: No New Shares, Liquidity for Holders
Ripple will repurchase existing shares directly from current holders without issuing new equity. This approach reduces the number of outside shareholders while providing a liquidity outlet for employees and early backers. The tender offer period extends through April, though specific terms remain undisclosed.
Previous Round Backed by Fortress, Citadel, Pantera
The buyback follows a $500 million fundraising round completed in November 2025. Participants included funds linked to Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. That round valued Ripple at approximately $40 billion.
Infrastructure Expansion: $1.25B Hidden Road, ~$1B GTreasury
Ripple has aggressively expanded its digital asset infrastructure through acquisitions. In 2025, it acquired prime brokerage platform Hidden Road for $1.25 billion and treasury management platform GTreasury for roughly $1 billion. Hidden Road provides trading, clearing, and financing services for institutions; GTreasury focuses on corporate liquidity management.
Stablecoin RLUSD and XRP Ledger Growth
Ripple issues the dollar-pegged stablecoin RLUSD through its custody arm, with a current supply of approximately $1.5 billion. The company continues building services around the XRP Ledger, a blockchain network optimized for cross-border payments between banks and financial institutions. Ripple reports that its payment ecosystem has processed over $100 billion in transactions, with settlements settling in seconds through the distributed ledger.