It looks like digital assets and infrastructure company Ripple just hit it big. Ripple said Wednesday it has raised $500 million in funding, lifting its valuation to $40 billion.
“The decision to accept $500 million in new common equity reflects the strategic value of deepening relationships with financial partners whose expertise complements Ripple’s expanding global suite of products,” Ripple said, adding that it is continuing its “record year of growth.”
Ripple, which is closely linked to the XRP cryptocurrency, said the funding round was led by funds managed by affiliates of Fortress Investment Group, affiliates of Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
Ripple Labs, based in San Francisco, is a digital-assets company operating the XRP Ledger and providing blockchain solutions for cross-border payments, stablecoins, and tokenization. In 2025, Ripple has expanded through acquisitions, including Hidden Road and the stablecoin platform Rail, and introduced its USD-backed stablecoin RLUSD, aiming to serve institutional finance. The company benefits from a more favorable U.S. regulatory environment after resolving its legal dispute with the SEC, though global regulatory frameworks remain fragmented and uncertain.
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Adoption of Ripple’s technologies is growing but uneven across regions and industries, and XRP’s significant holdings by the company raise concerns about decentralization and market influence. Ripple’s growth and market impact also depend on broader cryptocurrency market conditions, technological execution, and regulatory developments. Overall, Ripple in 2025 is strategically positioned for expansion, but its future remains contingent on evolving regulations, market volatility, and the ability to achieve widespread institutional adoption.
Monica Long, president of Ripple, told CNBC in an interview on Wednesday that the company did not need to raise any money but had seen demand from institutional investors who wanted a share of the company.
“We think it makes good sense to have them as strategic partners, as investors who will have a hand toward building the future,” Long said.
“We will continue to look at where new opportunities arise in those two things,” Long said.
While other crypto-focused companies such as Circle have gone public, Long said this is not on the radar for Ripple right now.
“We are really pleased to see crypto companies going public, that is great for our overall industry continuing to mature,” Long said.
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“We are not focused on an IPO right now. We have the balance sheet, the liquidity to be growing and making moves on M&A and other big strategic partnerships. We will continue to remain private.”
The fundraise comes after a slew of acquisitions and as the company expands its product base beyond just payments.
By attracting institutional investors such as Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace, Ripple is deepening financial partnerships to support its expanding product suite, including cross-border payments, stablecoins, tokenization, and acquisitions like Hidden Road and Rail. The company benefits from a more favorable U.S. regulatory environment after settling its SEC dispute, but global regulations remain fragmented and uncertain.
While adoption of Ripple’s technologies is growing, it is uneven across regions and industries, and XRP’s concentrated holdings pose decentralization concerns. Ripple’s future performance will depend on market conditions, regulatory developments, and its ability to execute technological and strategic initiatives. Remaining privately held allows flexibility in pursuing acquisitions and partnerships, but full-scale institutional adoption and global expansion remain ongoing challenges.