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

Ripple has secured $500 million in a funding round led by Fortress Investment Group and Citadel Securities, raising its valuation to $40 billion. This investment follows a recent $1 billion tender offer, indicating strong institutional support as Ripple expands its operations into stablecoins, custody, and brokerage services, alongside its payment solutions. CEO Brad Garlinghouse noted that Ripple has evolved since its launch in 2012, now providing a range of services including corporate treasury. The company’s payments platform has achieved significant growth, handling over $95 billion in transaction volume, and its recently launched stablecoin, RLUSD, is already being utilized in their brokerage platform, Ripple Prime. This round attracted major institutional investors including Pantera Capital and Galaxy Digital, broadening Ripple’s investor base significantly.

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