Ripple has formally ruled out an initial public offering, with President Monica Long telling Bloomberg the company sees little strategic value in going public. The statement came after Ripple closed a $500 million private funding round that valued the firm at $40 billion, drawing participation from Fortress Investment Group, Citadel Securities, and multiple crypto-focused funds.
Private Markets Already Provide Liquidity
Long explained that Ripple already has sufficient investor access and liquidity through private channels, eliminating the primary reasons companies typically pursue IPOs. She noted the fundraising terms were favorable for Ripple, and the company prefers to retain flexibility and operational control rather than face quarterly pressure from public markets.
Four Acquisitions Total Nearly $4B
Ripple’s decision to stay private aligns with its aggressive M&A strategy. The company completed four major acquisitions worth nearly $4 billion: prime broker Hidden Road, payments platform Rail, treasury provider GTreasury, and custody firm Palisade. These deals extend enterprise infrastructure across payments, custody, and treasury management. Meanwhile, Ripple Payments has processed over $95 billion in transaction volume. Ripple Prime also expanded into collateralized lending and institutional XRP products.
RLUSD Breaks Into Top Five USD Stablecoins
Ripple’s dollar-backed stablecoin RLUSD reached a $1 billion market cap in November 2025, according to 36Crypto. The milestone makes it one of the fastest-growing regulated stablecoins, now ranked among the top five USD-pegged tokens. RLUSD operates under a national trust bank charter from the OCC and a New York regulatory license. It serves settlement, liquidity, and institutional use cases across Ripple Payments and Ripple Prime. Strong stablecoin adoption further reduces Ripple’s need to tap public markets, reinforcing its private growth model.