Ripple President Monica Long stated in a Bloomberg Crypto interview aired on Jan. 6 that the company has no specific timeline for an initial public offering and intends to stay private. The comments come after Ripple raised $500 million in a November 2025 funding round, valuing the firm at roughly $40 billion.
Strong balance sheet removes IPO urgency
Long explained that companies typically go public to access liquidity and a broader investor base, but Ripple is already well capitalized. The November round attracted major investors including Fortress Investment Group, Citadel Securities affiliates, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. The $40 billion valuation marked a sharp step up from an implied $11.3 billion valuation tied to a share buyback earlier in 2025.
Long said management is focused on execution rather than preparing for a listing. That includes absorbing recent acquisitions and expanding Ripple's stablecoin and payments businesses.
Acquisition-heavy 2025 shifts focus to integration
In 2025, Ripple completed several major acquisitions to build institutional infrastructure. The largest was the $1.25 billion purchase of prime broker Hidden Road (announced in April, closed in October), making Ripple the first crypto-native company to own a global multi-asset prime broker. Other deals included the $1 billion acquisition of GTreasury in October, the $200 million purchase of payments platform Rail in August, and the custody firm Palisade later in the year.
CEO Brad Garlinghouse said in November that acquisition activity would slow in 2026, with attention shifting to integration and scaling. On Jan. 6, GTreasury announced its first add-on acquisition under Ripple, buying financial automation firm Solvexia.
Stablecoins and network upgrades advance
Ripple's stablecoin RLUSD passed $1 billion in market cap in late 2025. New features on the XRP Ledger, including lending and privacy tools, are expected to advance in the current quarter.