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Ripple will not pursue an initial public offering in the near term, President Monica Long said Monday, as the blockchain payments company focuses on integrating more than $2.4 billion in recent acquisitions and scaling its stablecoin business.
The decision comes despite a $500 million funding round in November that valued Ripple at $40 billion.
According to Long, the primary motivation for an initial public offering is access to liquidity and capital, neither of which is currently a constraint for Ripple.
She said the company’s balance sheet and recent fundraising eliminate the urgency for a Ripple ipo.
Ripple raised $500 million in a private funding round in November 2025, valuing the company at approximately $40 billion. Details of the round were disclosed in a Ripple investor announcement, which outlined participation from both traditional finance and crypto-native firms.
“We were very pleased with the outcome,” Long said, adding that private funding provides flexibility without the regulatory and reporting burdens that accompany a public listing.
The valuation represented a sharp increase from earlier benchmarks, including an implied $11.3 billion valuation tied to a share buyback earlier in 2025.
Investors in the latest round included Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace, highlighting continued institutional confidence despite Ripple ipo uncertainty.
For management, the message was clear: capital availability is not the bottleneck. Instead, leadership views focus and operational discipline as more valuable than the optionality of a Ripple ipo.
Rather than preparing for a Ripple ipo, the company spent most of 2025 executing an aggressive acquisition strategy aimed at building end-to-end institutional infrastructure.
The largest transaction was Ripple’s $1.25 billion acquisition of prime broker Hidden Road, announced in April and completed in October.
The deal, detailed in a Ripple press release on the Hidden Road acquisition, made Ripple the first crypto-native firm to own a global, multi-asset prime broker offering trading, financing, and clearing across digital assets and foreign exchange.
“This was a foundational move,” said Brad Garlinghouse, Chief Executive Officer, Ripple, in a November statement. “Owning institutional-grade infrastructure positions us for the next phase of growth.”
Ripple followed that deal with a $1 billion acquisition of GTreasury in October, expanding into corporate treasury management, and a $200 million purchase of payments platform Rail in August.
Later in the year, the company also acquired digital asset custody provider Palisade, strengthening its institutional custody offerings.
The acquisition spree has shifted internal priorities. Garlinghouse said in November that dealmaking would slow in 2026 as the company pivots toward integration and scaling, reinforcing management’s view that a Ripple ipo would be a distraction during a critical consolidation phase.
Ripple’s post-acquisition strategy further explains why a Ripple ipo is not imminent.
On Jan. 6, GTreasury announced its first add-on acquisition under Ripple ownership, acquiring financial automation firm Solvexia, signaling that integration is already producing downstream expansion.
Alongside corporate development, Ripple continues to push product innovation. Its U.S. dollar stablecoin, RLUSD, surpassed a $1 billion market capitalization in late 2025, according to metrics published on the RLUSD transparency and supply page.
The stablecoin is positioned as a settlement asset for enterprise payments and liquidity management.
At the protocol level, upgrades to the XRP Ledger are also accelerating. Ripple developers have outlined upcoming features including lending primitives and enhanced privacy tools, detailed in the XRP Ledger development roadmap, which are expected to roll out this quarter.
“Execution is the focus right now,” Long said, emphasizing that integrating acquisitions, scaling stablecoin adoption, and upgrading network functionality offer higher near-term returns than pursuing a Ripple ipo.
While Ripple ipo speculation is unlikely to disappear, leadership has consistently framed public markets as optional rather than inevitable.
With ample private capital, expanding institutional infrastructure, and growing product lines, Ripple appears content to remain private as it builds scale.
For crypto investors and policy makers, the company’s stance signals a broader shift among large digital asset firms: access to capital no longer guarantees a rush to list.
In Ripple’s case, delaying a Ripple ipo is less about market timing and more about strategic control.
As Long put it, the question is not whether Ripple can go public, but whether doing so would meaningfully advance its long-term goals. For now, the answer remains no.
