Ripple, the blockchain company known for issuing the XRP token, has reaffirmed that it has no plans to pursue an initial public offering (IPO). Company leadership said Ripple will focus on internal growth, mergers and acquisitions, and enterprise product expansion, supported by strong liquidity and a stable balance sheet.
Ripple decides to remain private
In an interview with Bloomberg on January 6, Ripple President Monica Long said,
“At present, we plan to remain private.” She added, “Typically, companies pursue an IPO to increase investor access and secure liquidity in public markets. But Ripple already has sufficient capacity to finance and invest for the company’s growth, so there is no need to go public.”
Long emphasized that Ripple holds a strong financial position, allowing it to scale without accessing public markets. Her remarks aligned with the company’s recent fundraising success, which gave Ripple confidence in its private strategy.
In November 2025, Ripple raised $500 million at a $40 billion valuation, according to the company’s statements. The funding round included major institutional participants such as Fortress Investment Group and Citadel Securities, among several other leading funds in the digital asset space. Ripple described the structure of the deal as “very positive and favorable for Ripple,” but declined to discuss investor protection clauses or other contractual details.
Expansion through acquisitions and business diversification
Ripple’s financial strength has enabled a series of major acquisitions aimed at building out its enterprise digital asset infrastructure. Over the last year, Ripple completed four notable transactions:
- Hidden Road, a global prime broker, acquired for around $1.25 billion and rebranded as Ripple Prime.
- Rail, a stablecoin payment platform reportedly purchased for $200 million.
- GTreasury, a treasury management and financial software company, acquired for roughly $1 billion.
- Palisade, a digital asset wallet and custody company, also brought under Ripple’s ecosystem.
The combined value of these transactions approached $4 billion, according to company statements and reporting by BusinessWire. Ripple said these acquisitions advance its goal of becoming a holistic provider of institution-grade digital asset infrastructure for global finance and technology firms.
Ripple’s service units continue to expand. In November 2025, Ripple Payments recorded cumulative transaction volume exceeding $95 billion. Ripple Prime, formed from the Hidden Road integration, has moved into collateralized lending and institutional XRP product lines.
Positioning around tokenized finance
Ripple intends to expand its ecosystem around its native stablecoin, RLUSD, introduced to serve both as a settlement asset and as part of Ripple’s broader liquidity management network. Monica Long said,
“Our company’s strategy is to serve as a bridge to help traditional finance use blockchain, virtual assets, and tokenized assets in the real economy. Our own stablecoin ‘RLUSD’ will play that central role.”
Long reiterated that Ripple’s roadmap centers on long-term utility rather than short-term investor liquidity. The company seeks to encourage more financial institutions to adopt blockchain-based tools for settlements, payments, and treasury operations.
Broader crypto IPO environment
Ripple’s decision contrasts with the ongoing trend of digital asset companies entering public markets. In recent months, several blockchain and crypto firms have filed or completed listings. Stablecoin issuer Circle, crypto exchange Bullish, and blockchain lender Figure Technologies all moved toward public offerings. Custody providers BitGo and Grayscale filed registration documents with the U.S. Securities and Exchange Commission, while Kraken aims for a 2026 listing following a $500 million fundraise.
Although Ripple withdrew earlier IPO plans originally hinted at in 2023, Long expressed optimism toward peers that choose that route.
“We are really pleased to see crypto companies going public, that is great for our overall industry continuing to mature,” she told.
With a large balance sheet and steady institutional partnerships, Ripple appears set to remain private while pursuing expansion through acquisitions and product-based growth rather than investor capital from public markets.
Gunel Ismayilova
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