Ripple has pulled off another major milestone. The crypto-focused fintech startup announced a $500 million strategic investment led by Fortress Investment Group and Citadel Securities, valuing the firm at $40 billion. Other heavyweight investors joining the round include Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace — a lineup that signals deepening institutional confidence in Ripple’s long-term play in digital finance.
The raise follows Ripple’s recent $1 billion tender offer at the same valuation, marking one of the largest private transactions in the crypto sector this year. It caps off what CEO Brad Garlinghouse described as “Ripple’s strongest year to date,” a stretch defined by record transaction volumes, growing adoption of its stablecoin Ripple USD (RLUSD), and expanding institutional demand for XRP.
The timing couldn’t be more strategic. Since the passage of the GENIUS Act — a law establishing clear rules for stablecoins — financial institutions have started warming up to blockchain-backed payment systems. More banks and corporates are using stablecoins like RLUSD for treasury payments, settlements, and collateral management. Ripple, which has built its business around simplifying cross-border money movement, is now positioning itself as a bridge between traditional finance and crypto liquidity.
Garlinghouse said the new capital isn’t about survival or hype. “This investment reflects both Ripple’s incredible momentum and further validation of the market opportunity we’re aggressively pursuing,” he said in a news release. “We started in 2012 with one use case — payments — and have expanded that success into custody, stablecoins, prime brokerage, and corporate treasury.”
Ripple’s focus on institutional crypto infrastructure has started paying off. In just two years, the company completed six acquisitions, two of them valued at over $1 billion, giving it a footprint across payments, custody, and stablecoins — and a foothold in prime brokerage and treasury management. Its acquisition of stablecoin platform Rail earlier this year strengthened Ripple Payments, turning it into a full-service cross-border network powered by RLUSD and XRP. Ripple says its payments volume has already crossed $95 billion, a strong indicator that crypto payments are moving from theory to practice.
The company’s push into stablecoins is also gaining traction. RLUSD recently topped a $1 billion market cap, and institutions are now using it for collateral and liquidity operations through Ripple Prime — a prime brokerage business born from the acquisition of Hidden Road, Reuters reported. Since rebranding the platform, Ripple has seen client collateral double and daily transactions climb past 60 million, tripling the business’s overall size.
Since its inception thirteen years ago, Ripple has made clear that the funding will help deepen relationships with banks, corporates, and asset managers looking to integrate digital assets into their balance sheets. With 75 regulatory licenses, the company can move money directly on behalf of customers, eliminating intermediaries and reducing friction in liquidity management.
Under a more crypto-friendly U.S. administration, Ripple sees an opening to expand its use of XRP in capital markets. Its $500 million investment round doesn’t just reflect growth — it signals that institutional crypto, once viewed with skepticism, is maturing fast.
“Today, Ripple stands as the partner for institutions looking to access crypto and blockchain,” Garlinghouse said. And judging by who just bought in, Wall Street seems to agree.
