Ripple raises $500 million at $40 billion valuation in round led by Fortress, Citadel 

Blockchain payments company Ripple announced a $500 million strategic investment round, led by Fortress Investment Group and Citadel Securities, which sets the company's valuation at $40 billion. This funding round, which also included Pantera Capital and Galaxy Digital, follows a recent $1 billion tender offer at the same valuation and caps Ripple's strongest year on record, highlighted by the settlement of its legal dispute with the SEC. CEO Brad Garlinghouse noted the expansion from payments into custody, stablecoins, prime brokerage, and corporate treasury solutions, leveraging digital assets like XRP. The new capital will support Ripple's push into institutional markets through its stablecoin (RLUSD), prime brokerage (Ripple Prime, built on the Hidden Road acquisition), and treasury solutions (bolstered by the $1 billion acquisition of GTreasury). Ripple's RLUSD stablecoin has already crossed a $1 billion market cap, and its payments arm has processed over $95 billion in volume.

(Source：The Block)