Ripple President Monica Long has clarified that the company has no plans to go public in the immediate future, stating there is no timeline or rush for an IPO. This was confirmed during Ripple's Swell conference in New York, as reported by Bloomberg. Long emphasized that Ripple is in a fortunate position to fund all its operations, growth, and strategic initiatives without needing public markets.
The company recently raised $500 million at a $40 billion valuation, with participation from prominent investors including Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. This funding supports Ripple's aggressive expansion, including over $4 billion spent on acquisitions and investments in 2024, such as custody infrastructure firm Palisade, stablecoin payments platform Rail, and prime brokerage Hidden Road.
Ripple has seen a 100% quarter-over-quarter increase in its customer base, attributed to growing adoption of stablecoin-based payments and improved regulatory clarity. The conclusion of the long-standing legal battle with the U.S. Securities and Exchange Commission (SEC) has allowed Ripple to resume business operations in the U.S., with the majority of new job offers now based domestically.
Regulatory changes under the Trump administration, including the approval of a federal framework for stablecoins, have further boosted Ripple's business by encouraging traditional financial institutions to enter the crypto space. Ripple's native token, XRP, has rallied approximately 8% this year, driven by reduced legal uncertainty and expanded adoption. Despite other crypto companies like Circle, Bullish, Gemini, and Figure completing IPOs in 2024, Ripple remains focused on private growth, with the U.S. government shutdown potentially delaying public offerings for other firms.
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