Ripple Raises $500M at $40B Valuation in Fortress-Led Round

Ripple raised $500 million in a strategic funding round led by Fortress Investment Group and Citadel Securities, reaching a valuation of $40 billion. Other notable investors included Pantera Capital and Galaxy Digital. This investment signifies Ripple's increasing momentum and its ongoing expansion into various sectors such as stablecoins, custody, and brokerage, alongside its core payments business which has processed over $95 billion in volume. The funding follows a recent $1 billion tender offer at the same valuation. CEO Brad Garlinghouse highlighted the firm’s growth since its inception in 2012 and its role as a partner for institutions seeking to leverage crypto and blockchain technology. Recent acquisitions have also helped reshape Ripple’s business model, particularly with the introduction of its stablecoin, RLUSD, which is already utilized within its institutional brokerage service. Overall, this funding round expands Ripple's institutional base and showcases the growing interest in digital assets among traditional financial players.

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