Ripple Raises $500M at $40B Valuation in Fortress-Led Round
Ripple secured $500 million in a funding round led by Fortress Investment Group at a $40 billion valuation.Summary
Ripple has successfully raised $500 million in a strategic investment round, achieving a $40 billion valuation. The round was led by Fortress Investment Group and Citadel Securities, with participation from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. CEO Brad Garlinghouse stated the investment validates Ripple's aggressive pursuit of the market opportunity across payments, custody, stablecoins, prime brokerage, and corporate treasury. This funding follows a recent $1 billion tender offer at the same valuation. Ripple has significantly expanded its business beyond cross-border remittances through acquisitions, including Metaco, Rail, and GTreasury, bolstering its flagship Ripple Payments product which now handles over $95 billion in volume. Furthermore, its new stablecoin, RLUSD, has surpassed a $1 billion market cap and is being used as collateral on its institutional brokerage platform, Ripple Prime.
(Source：CoinDesk)