Ripple Shelves IPO Ambitions Despite $500M Raise and $40B Valuation
Ripple Labs has put its long-anticipated initial public offering on hold despite that values the company at $40 billion.
Speaking with at the company’s Swell conference in New York, Ripple President Monica Long said there are no immediate plans to join the wave of crypto firms going public. “We do not have an IPO timeline. No plan, no timeline,” she said, noting that Ripple is focused instead on scaling its enterprise and institutional products.
The funding round, led by Fortress Investment Group and Citadel Securities, with participation from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace, boosts Ripple’s valuation to one of the highest among private blockchain companies. Long said the company remains financially strong and capable of sustaining growth without the pressures of public markets.
“We’re in a fortunate position where we’ve been able to be very well capitalized and fund all of our organic growth, inorganic growth, strategic partnerships—anything we want to do.”
Ripple Builds Institutional Infrastructure
Rather than preparing for a listing, the blockchain firm has accelerated its institutional expansion. The company recently launched Ripple Prime, an over-the-counter trading platform designed for U.S. institutional clients, and introduced a multi-asset spot trading service aimed at deepening liquidity for large-scale market participants.
At the identical time, it has advanced its stablecoin strategy. , a U.S. dollar–backed stablecoin, in partnership with Mastercard, WebBank, and Gemini to facilitate credit card settlements on blockchain rails — a move that could bring traditional finance closer to on-chain payments.
RLUSD is now valued at over $1 billion, less than a year later than its launch, placing it among the top 10 U.S. dollar–backed stablecoins. The token’s rapid growth—up more than 1,200% year-to-date.
Ripple’s growing product suite reflects its evolution into a full-scale fintech infrastructure provider rather than just a blockchain payments firm.
Despite the company’s operational momentum, XRP, its native token, has faced short-term pressure, slipping 4.35% in the past day with volume down to $5.3 billion within this period. Notably, the decline reflects broader market volatility, not fragileness in Ripple’s fundamentals.
By shelving its IPO ambitions, Ripple signals confidence in its private-market trajectory while deepening ties with institutional clients. With new funding, regulatory clarity, and expanding product lines, the company is positioning itself for long-term growth — whether or not it eventually heads to Wall Street.
