Ripple President Monica Long said the company has no plans for an initial public offering after raising $500 million in November at a $40 billion valuation, choosing private growth over public market scrutiny.
Ripple prefers private growth over public markets
Long told Bloomberg, the company, plans to remain private, citing its robust financial position and preference for expansion through acquisitions and product development without accessing public markets.
The November financing round attracted investors, among others Fortress Investment Group, Citadel Effectsand other crypto-focused funds.
Long described the deal structure as “very positive, very favorable for Ripple.”
She said the company did not need to raise money but was seeing strong demand from large institutional players.
The strategy behind most IPOs is to gain access to investors and liquidity in public markets, but Ripple is in a healthy position to fund growth without going public.
Acquisition of $4 billion to build a full-stack platform
Ripple completed four major acquisitions in 2025, totaling nearly $4 billion: global multi-asset prime broker Hidden roadstablecoin payment platform Tracksupplier of treasury management systems GTtreasuryand a digital asset portfolio and custody company Stockade.
The deals are part of Ripple’s push to position itself as a comprehensive provider of digital asset infrastructure for enterprises, expanding beyond its core payments business to focus on custody, prime brokerage and corporate treasury management.
As of November, Ripple Payments had processed a total volume of more than $95 billion.
Ripple Prime– built with the Hidden Road acquisition – recently expanded into collateralized lending and institutional XRP products.
Moreover, Ripple’s dollar stablecoin, RLUSDforms the core of both companies.
Long said the entire strategy is about creating products: the connective tissue that traditional financial institutions need to make blockchain, cryptocurrencies, stablecoins and tokenized assets actually useful in the real world.
Valuation breaks with XRP price action
The $40 billion private valuation represents a significant jump from Ripple’s 2019 Series C financing of $200 million at a $10 billion valuation.
Yet XRPs (CRYPTO:XRP) The price fell 48% from its July peak as the company’s balance sheet swelled.
The token’s performance is decoupled from the company’s financial strength, highlighting the fundamental difference between private valuation and public market sentiment.
Without quarterly oversight of the public markets, Ripple has more opportunities to integrate acquisitions and develop new services.
But it also faces less external pressure to deliver immediate returns on its $4 billion acquisition spree.
CEO signals that more deals will come in 2026
CEO Brad Garlinghouse has spotted More deals are planned for 2026, with an emphasis on product innovation and partnerships.
The company’s global network of more than 300 customers provides a foundation for driving adoption of its new services.
The company must successfully merge its new capabilities and drive RLUSD adoption to prove its $40 billion valuation.
If integration falters or ROI on acquisitions is slow, the high private valuation could become a problem, making future financing rounds more difficult.
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