Ripple announced Wednesday at its Swell 2025 conference that it has closed a $500 million strategic investment at a $40 billion valuation, led by Fortress Investment Group and Citadel Securities, following what the company described as its strongest year on record.
The San Francisco-based financial technology firm, which provides blockchain-based payment solutions for businesses, attracted backing from prominent institutional investors including Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. The investment follows a recent $1 billion tender offer at the same valuation.
"This investment reflects both Ripple's incredible momentum, and further validation of the market opportunity we're aggressively pursuing by some of the most trusted financial institutions in the world," said CEO Brad Garlinghouse, in a statement .
Ripple has completed six acquisitions in just over two years, including two valued at more than $1 billion each, expanding across payments, custody, stablecoins, prime brokerage, and treasury management. The company now holds 75 regulatory licenses globally.
Total payment volumes processed through Ripple Payments have surpassed $95 billion, driven by the platform's use of XRP and the company's RLUSD stablecoin. RLUSD crossed $1 billion in market capitalization this week, less than a year after launch.
Earlier this year, Ripple acquired stablecoin infrastructure company Rail to enhance its cross-border payments platform. In October, the company purchased GTreasury, which manages trillions of dollars in volume for Fortune 500 clients seeking to use stablecoins and digital assets for round-the-clock money movement and treasury optimization.
Ripple's prime brokerage business, formerly Hidden Road and now operating as Ripple Prime, has tripled in size since the acquisition was announced, the firm said. Client collateral has doubled, with average daily transactions climbing above 60 million. RLUSD is already being used as collateral on the platform, which is expanding into collateralized lending for XRP.
The company has repurchased more than 25% of its outstanding shares in recent years, returning value to employees and early investors. The latest tender offer attracted strong interest from institutional investors seeking exposure to Ripple's growth.
Founded in 2012 with a focus on payments, Ripple has expanded into a multi-product platform serving institutions looking to access cryptocurrency and blockchain technology. The company positions itself as bridging traditional finance and digital assets, particularly as institutions increasingly adopt stablecoins for treasury payments and collateral management.
