Despite several cryptocurrency startups moving toward public markets this year, Ripple has no plans to go public anytime soon.
In an interview with Bloomberg during the company’s Swell conference in New York, Monica Long, president of Ripple, verified this: “We don’t have an IPO timeline.” Monica also stated “No schedule, no plan.”
No plan for Ripple IPO
Ripple has no plan to follow suit. As the value of cryptocurrency increased throughout the first nine months of this year, several significant firms in the sector have already finished their initial public offerings.
This year saw the IPOs of blockchain lender Figure, stablecoin issuer Circle, and exchanges Bullish and Gemini.
Kraken, a cryptocurrency exchange, is also getting ready for its own launch.
Two days ago, at a $40 billion value, Ripple declared that it had raised $500 million. Funds associated with Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace participated in the investment round.
Ripple can keep creating new products, forming alliances, and growing its business without utilising public markets thanks to the additional capital.
Every year, Ripple hosts the Ripple Swell conference, where executives frequently share strategic direction with industry professionals and discuss blockchain advancements and business updates.
Quote from the leader
According to Monica, Ripple can finance its operations independently. “We’re in a fortunate position where we’ve been able to be very well capitalised and fund all of our organic growth, inorganic growth, strategic partnerships, anything we want to do,” she said.
The company’s 2024 revenue was not disclosed by her. She did reveal that Ripple increased its clientele between quarters. She attributed this to a rise in enterprises utilising stablecoin-based payments as well as a change in the legal environment that made things more transparent for firms operating both domestically and abroad.
Ripple’s CEO Brad Garlinghouse also commented, saying, “This 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.”
Also Read: Ripple Launches Ripple Prime As It Finalises Hidden Road Acquisition
Ripple going strong
CEO Brad Garlinghouse stated at the Ripple Swell conference last year that an IPO was not a top goal because of the company’s solid financial standing and SEC legal issues. When Ripple and the SEC decided to withdraw their appeals early this year, the protracted dispute came to an official close.
Since the start of Donald Trump’s second administration, Ripple’s business has benefited from changes in U.S. regulatory policy. The first federal regulatory framework for stablecoins has been approved thus far, providing businesses with a better understanding of how to launch and run stablecoin-related products.