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Ripple has announced a $500 million strategic investment at a $40 billion valuation, led by funds managed by affiliates of Fortress Investment Group and affiliates of Citadel Securities, alongside Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
The San Francisco-based financial technology company, which offers crypto solutions for businesses, said the investment follows its strongest year to date and a recent $1 billion tender offer at the same valuation.
The funding comes as Ripple continues to prioritise liquidity for shareholders and employees. The company has repurchased more than 25% of its outstanding shares in recent years, returning value to employees and early investors. The most recent tender offer attracted significant interest from institutional investors seeking to join Ripple's cap table.
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 product suite.
Brad Garlinghouse, Ripple CEO
Brad Garlinghouse, Ripple CEO, said:
"This investment reflects both Ripple's incredible momentum, and further validation of the market opportunity we're aggressively pursuing by some of the most trusted financial institutions in the world. We started in 2012 with one use case - payments - and have expanded that success into custody, stablecoins, prime brokerage and corporate treasury, leveraging digital assets like XRP. Today, Ripple stands as the partner for institutions looking to access crypto and blockchain."
In just over two years, Ripple has completed six acquisitions, including two valued at over $1 billion, expanding its footprint across payments, custody, and stablecoins, whilst entering new markets in prime brokerage and treasury management.
Earlier this year, the company acquired stablecoin infrastructure company Rail, adding capabilities to Ripple Payments as a full-service cross-border platform using Ripple USD (RLUSD) and XRP to make global money movement faster and more efficient for businesses.
With 75 regulatory licences, Ripple can move money on behalf of its customers, cutting out intermediaries and simplifying liquidity management and on-and-off ramps. Total Ripple Payments volumes have now surpassed $95 billion.
The company said that in a post-GENIUS Act environment, institutions are increasingly turning to trusted stablecoins like RLUSD for use cases such as treasury payments and collateral. This was a key reason why Ripple acquired GTreasury in October. GTreasury manages trillions of dollars of volume for its Fortune 500 customers who are looking to use stablecoins and digital assets to move money around the clock and put their idle capital to work.
This week, RLUSD crossed a $1 billion market cap in less than a year since launch. Ripple also recently completed its acquisition of Hidden Road, now known as Ripple Prime, where RLUSD is already in use as collateral.
Since the deal was announced, client collateral has doubled, average daily transactions have climbed to more than 60 million, and the business has tripled in size. Ripple Prime is now expanding into collateralised lending for XRP and supporting a rapidly growing base of institutions trading XRP-based products.
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