Ripple Shuts Down IPO Rumors Despite $40B Valuation and $500M Boost
Ripple has made it clear it's got no plans to go public anytime soon, even though loads of other major crypto companies are rushing...
Quick overview
- Ripple has no plans for an IPO, focusing instead on organic growth with a recent $500 million funding round valuing the company at $40 billion.
- The company's customer base has doubled in a quarter, driven by increased demand for stablecoin payments and supportive legislation like the U.S. government's GENIUS Act.
- Ripple is actively pursuing partnerships and pilot programs, including one with Mastercard, to enhance its stablecoin offerings and market confidence.
- While other crypto companies are successfully going public, Ripple prefers to remain private and expand its product line without the pressures of public scrutiny.
Ripple has made it clear it’s got no plans to go public anytime soon, even though loads of other major crypto companies are rushing towards Initial Public Offerings (IPOs). Speaking at the Swell Conference in New York, President Monica Long basically said that they’ve “no IPO timeline” on the go.
This comes not long after Ripple wrapped up a whopper of a funding round—$500 million—that valued the company at around $40 billion. Still, Long made it clear that all that cash gives them the freedom to expand without tapping the public markets.
“No plan, no timeline” Long said a couple of times to drive the point home. In other words, they’ve got the money to keep growing organically in whatever direction they want.
Expanding Reach Through Stablecoins, its the Name of the Game
Ripple is pursuing a public listing, but that doesn’t mean they’re not innovating—in fact, they’re getting stronger by the day. Long said that their customer base has doubled in a single quarter, largely thanks to the growing demand for stablecoin payments.
It’s a whole bunch of things coming together that are driving this growth – take the U.S. government’s GENIUS Act, for example, which has basically given a nod to stablecoin adoption.
Other contributing factors include:
- Strong partnerships in the cross-border and retail payment sectors.
- More institutions are taking an interest in Ripple’s RLUSD stablecoin.
It looks like Ripple’s been using stablecoin activity to keep its growth going—and that includes a recent pilot program with Mastercard, WebBank, and Gemini that’s exploring RLUSD for credit card settlement systems. The program just pushed the market capitalization of its stablecoin above $1 billion, which should give investors a bit more confidence in the future.
The Crypto IPO Boom is still going strong without Ripple on Board
Ripple has decided to hold off on a public listing and instead focus on growing without the added pressures of being a public company. Still, they’re missing out on the latest round of successful crypto IPOs.
Some of the most notable ones include:
- Figure Technologies is listed on Nasdaq, raising $787.5 million and reaching a valuation of $7.62 billion.
- Gemini Exchange, led by the Winklevoss twins, raised $425 million.
- Circle, the issuer of USDC, raised $1.1 billion in its IPO, boosting its valuation to $8 billion.
Of course, there are plenty of other firms champing at the bit to get in on the public offering action—firms like Kraken, Consensys, and HashKey are preparing for their own IPOs. HashKey, for example, is reportedly aiming to raise $500 million in Hong Kong.
But for now, Ripple is sticking with its private growth plan and instead focusing on expanding its product line rather than dealing with the added scrutiny of being a public company.
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