Ripple President Monica Long has again ruled out an initial public offering, stating the company's balance sheet gives it ample room to stay private and fund growth internally.
In a Tuesday interview with Bloomberg, Long said: "Currently, we still plan to remain private," arguing that Ripple does not need the liquidity or capital access that typically drive IPO decisions. She emphasized the firm is well-positioned to fund growth without relying on public markets.
The comments follow Ripple's $500 million fundraising round in November 2025 at a reported $40 billion valuation, with investors including Fortress Investment Group and affiliates of Citadel Securities. Long described the deal terms as "very positive" and "very favorable" for Ripple, though she declined to provide further details on investor protections such as share buyback rights or downside preferences.
Nearly $4 Billion in Acquisitions
In 2025, Ripple completed four acquisitions: multi-asset prime broker Hidden Road, stablecoin payment platform Rail, treasury management system provider GTreasury, and digital asset wallet/custody firm Palisade. The combined value of these deals approaches $4 billion.
These moves are part of Ripple's broader push to become an end-to-end provider of enterprise digital asset infrastructure. As of last November, Ripple Payments had processed over $95 billion in total volume. Ripple Prime, built around the Hidden Road acquisition, has expanded into collateralized lending and institutional XRP products. The dollar-pegged stablecoin RLUSD sits at the center of both business lines, tying together payments, liquidity, custody, and settlement.
"The whole strategy of our company is to create products," Long said, adding that Ripple is building the connective tissue traditional finance needs to make stablecoins, tokenized assets, and crypto rails usable in real-world workflows.