Overview
- Funds managed by affiliates of Fortress Investment Group and Citadel Securities led the round, with Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace participating.
- The financing follows a $1 billion tender offer earlier this year at the same valuation as Ripple expands beyond payments into custody, treasury and prime brokerage.
- Ripple, Mastercard, WebBank and Gemini are piloting RLUSD for settlement of credit card flows on the XRP Ledger, with onboarding and regulatory approvals still required before integration.
- Ripple says RLUSD has surpassed $1 billion in market capitalization within about a year of launch, and Ripple Payments has processed more than $95 billion in total volume.
- President Monica Long reiterated there is no plan or timeline for an IPO as Ripple remains private and continues integrating recently acquired capabilities including GTreasury, Hidden Road (Ripple Prime), Rail and custody platforms.