- It’s almost a ritual: For years, Ripple has more or less firmly rejected speculation about an IPO every six to eight weeks and points to other growth engines.
- This time it is the new financial strength after a capital increase of 500 million dollars that has increased the company’s valuation to around 40 billion dollars. The RLUSD stablecoin now has a share of over a billion dollars.
Ripple has once again ruled out any plans for an IPO. Ripple President Monica Long, confirmed this at the Swell conference in New York:
“We have no IPO timeline, no plan, no timeline.
The statement came at a time when several major players in the cryptocurrency sector, including Circle Internet Group, Bullish, Gemini and Figure Technology, have already entered public markets after a year of strong crypto valuations. Kraken is also preparing for a stock market listing, adding to the ongoing momentum in the sector.
Ripple wants to continue to strengthen its financial position in other ways. On Wednesday, the company confirmed a $500 million capital raise, now valuing the company at $40 billion.
The investment was supported by Fortress Investment Group and Citadel Securities. Other investors include Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace.
Ripple’s growth is fueled by RLUSD success
Monica Long explained that Ripple’s strong capital base allows the company to finance operations without turning to the public:
“We are fortunate that we are very well capitalized and can fund all of our organic growth, inorganic growth, strategic partnerships and whatever we want to do.”
Ripple has seen an impressive increase in activity in 2024. Although the company has yet to release revenue figures, Long confirmed that its customer base has doubled compared to the previous quarter.
This rapid expansion has come with a surge in stablecoin payments and a clearer regulatory environment, which Long says has “really opened up the market,” both domestically and internationally.
State policy and institutional market entry strengthen Ripple
Recent changes in US regulations have played a large role in this progress. The Trump administration introduced the first federal framework for stablecoins, providing clarity to companies developing products in this space.
The GENIUS Act, passed earlier this year, promoted the adoption of stablecoins across financial systems. This political shift has attracted many established Wall Street institutions into the digital asset markets. Ripple is among the beneficiaries, using its position to expand through partnerships in the cross-border and retail payments sectors.
Its RLUSD stablecoin has gained traction, particularly through collaborations with major financial players. As part of a pilot initiative involving Mastercard, WebBank and Gemini, RLUSD is currently being tested for processing credit card payments.
Following this program, RLUSD’s market capitalization exceeded $1 billion, increasing the confidence of investors and institutional clients.
Ripple recently expanded its business services by acquiring Palisade, a digital asset custody provider. This move enables Ripple to offer secure and scalable crypto services through an integrated platform.
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