"Ripple has raised $500 million at a $40 billion valuation, with backing from Wall Street players betting on the infrastructure underpinning digital assets. The round was led by funds affiliated with Fortress Investment Group and Citadel Securities, alongside Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace, the crypto-focused financial technology company said in a statement Wednesday. Ripple said the new capital will bolster its expansion into custody, stablecoins and prime brokerage services,"
""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," Brad Garlinghouse, Ripple's chief executive officer, said in the statement. Ripple's aim is to be an infrastructure partner for institutions looking to access cryptocurrencies and blockchain. Interest from traditional financial institutions to enter the crypto sector has become more public since the dawn of the second Trump administration, which has scaled back regulation and embraced the crypto industry."
Ripple secured $500 million at a $40 billion valuation from investors including Fortress-affiliated funds, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace. The company will use the funding to accelerate expansion into custody, stablecoins and prime brokerage services amid evolving regulated digital asset rails. Ripple reports processing over $95 billion in transactions on its blockchain-based network and positions its platform for cross-border payments. Its US-dollar-backed stablecoin RLUSD recently exceeded $1 billion in market value, ranking seventh by CoinMarketCap data. The SEC closed its case against Ripple earlier in the year.
Read at Fortune Crypto
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