Ripple Dismisses IPO Plans

Ripple has no immediate plans to go public, says President Monica Long.

Ripple has no immediate plans to go public, unlike several American crypto industry players. This was stated by the fintech company’s president, Monica Long, in an interview with Bloomberg.

“We have no timeline for an IPO. No plans, no deadlines,” she emphasized.

Since the beginning of the year, Circle, Bullish, Gemini, and Figure have all become public companies. Kraken has announced preparations for a similar move.

On November 5, Ripple announced it had secured strategic investments amounting to $500 million with a valuation of $40 billion. Investors include Citadel Securities, Fortress Investment Group, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.

“We are in a favorable position as we have the ability to capitalize well and fund all our organic and inorganic growth, strategic partnerships, everything we want to do,” Long commented.

She declined to disclose the company’s financial results for 2024 but noted that Ripple doubled its client base in the last quarter due to the introduction of the RLUSD stablecoin. She attributed the growth to the spread of payments in “stablecoins” and the adoption of asset regulation in the US.

In 2022, Ripple CEO Brad Garlinghouse stated that the company would consider an IPO after resolving its dispute with the US Securities and Exchange Commission (SEC).

In January 2024, he admitted that the firm had plans to go public outside the US due to the regulator’s “hostile” attitude. The company postponed these plans, considering an IPO not a priority.

The SEC lawsuit against Ripple, ongoing since 2020, was finally dismissed by the court in August 2025.

Ripple to Slow Business Acquisitions

Since April, the fintech firm has spent over $2.4 billion acquiring at least four companies.

The announced acquisition of global prime broker Hidden Road for $1.25 billion was completed in October. Ripple also spent $1 billion on treasury company GTreasury.

In August, the firm announced the acquisition of stablecoin platform Rail for $200 million. In early November, Ripple acquired custody solutions developer Palisade. The transaction amount was not disclosed.

“Don’t expect the same next year. We will likely slow down acquisitions in 2026, which will greatly please our corporate development team,” Garlinghouse said during a panel discussion at the Swell conference, reports DL News.

He emphasized that Ripple’s approach differs from the industry norm—the company focuses on acquiring “what is more related to traditional finance.” As an example, Garlinghouse pointed to broker Hidden Road, most of whose business is unrelated to digital assets. Ripple’s CEO described GTreasury primarily as a bridge between TradFi and DeFi.

According to Garlinghouse, the company had plans to purchase a crypto exchange but ultimately made successful investments in several platforms.

“This is a completely different business from what Ripple does. I don’t see us entering the exchange market,” he stated.

Ripple, in partnership with Mastercard, WebBank, and Gemini, will test the use of RLUSD in fiat card payments.