XRP-linked firm rules out IPO

Ripple has no plans to pursue an initial public offering, President Monica Long said, reiterating that the company prefers to stay private as it expands through acquisitions and product development.

“Currently, we still plan to remain private,” Long said in a Tuesday interview with Bloomberg, arguing Ripple does not need the liquidity or capital access that typically drives IPO decisions.

She said the company is well-positioned to fund growth internally without relying on public markets.

The comments follow Ripple’s $500 million raise in November 2025 at a reported $40 billion valuation.

The round included investors such as Fortress Investment Group and affiliates of Citadel Securities, as well as other crypto-focused funds.

Long described the deal terms as “very positive” and “very favorable” for Ripple when asked about protections reportedly included for investors, such as the right to sell shares back to the company at a guaranteed price and preferential treatment in certain downside scenarios, though she did not provide further detail.

A year of aggressive dealmaking

In 2025, the company completed four acquisitions, including multi-asset prime broker Hidden Road, stablecoin payments platform Rail, treasury management system provider GTreasury and digital asset wallet and custody firm Palisade.

The deals, totaling nearly $4 billion, are part of Ripple’s broader push to position itself as an end-to-end provider of enterprise digital asset infrastructure.
As of last November, Ripple Payments had processed more than $95 billion in total volume. Ripple Prime, built around the acquisition of Hidden Road, has expanded into collateralized lending and institutional XRP products. Ripple’s dollar-pegged stablecoin, RLUSD, sits at the center of both business lines, tying together payments, liquidity, custody, and settlement.

“The whole strategy of our company is to create products,” Long said, adding that Ripple is focused on building the connective tissue traditional finance needs to make stablecoins, tokenized assets and crypto rails usable in real-world workflows.