Ripple has raised $500 million from top global investors at a $40 billion valuation. The funding was led by Fortress Investment Group and Citadel Securities, joined by Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
The deal comes after Ripple’s strongest year yet and a recent $1 billion tender offer at the same valuation. The move shows investor confidence in Ripple’s fast growth and expanding crypto business.
According to the press release, the funds will help deepen ties with major financial institutions. The company has been growing quickly, focusing on payments, custody, stablecoins, and treasury services.
Ripple CEO Brad Garlinghouse said, “This investment reflects both Ripple’s incredible momentum and further validation of the market opportunity we’re pursuing by some of the most trusted financial institutions in the world.” He added that Ripple started with payments in 2012 and has since expanded into new areas using digital assets like XRP.
The company has also been returning value to shareholders. Ripple has bought back more than a quarter of its shares in recent years. Its tender offer earlier this year drew strong interest from institutional investors eager to join its success.
Meanwhile, Ripple said its payments platform has now processed over $95 billion in total volume. The system uses XRP and its stablecoin RLUSD to make global transactions faster and cheaper for businesses. RLUSD reached a $1 billion market cap in less than a year. This shows that more businesses are starting to use Ripple’s stablecoin for everyday payments and finance.
Notably, Ripple has also expanded by buying several companies. In just over two years, it bought six firms, including Rail, GTreasury, and Hidden Road, which is now called Ripple Prime. These deals strengthened its position in payments, stablecoins, and treasury services.
That said, Ripple Prime has seen client collateral double and transactions rise to 60 million a day. With 75 regulatory licenses, Ripple continues to expand globally while helping businesses move money with ease.
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