Ripple’s president Monica Long told Bloomberg on the sidelines of its annual Swell conference, that the company currently has “no plan, no timeline” to take the firm public. According to her, the decision comes as Ripple is well-capitalised and not under pressure to raise funds via public markets.
Why is Ripple holding off?
Long emphasised that Ripple’s recent $500 million funding round, which pushed the valuation to roughly $40 billion, gives the firm flexibility. The funding round was led by Fortress Investment Group Pantera Capital, Citadel Securities and other investors. She noted that the company’s customer base has reportedly doubled quarter-over-quarter, propelled by stablecoin and cross-border payment initiatives.
Ripple hasn’t always ruled out going public. Back in 2023, the company stirred speculation about a potential IPO, but legal hurdles led it to pause those plans in 2024. CEO Brad Garlinghouse even explored the option of listing abroad, though those discussions were ultimately set aside.
Crypto cos knocking on Wall Street
Several crypto-adjacent firms have listed or are preparing to list on exchanges taking crypto mainstream. More recently, Figure Technologies raised about $787 million in its 2025 IPO. Stablecoin issuer Circle has entered the public-market. President long expressed support and confidence for the other company’s that have gone public so far. “We are really pleased to see crypto companies going public, that is great for our overall industry continuing to mature,” Long said.
Ripple’s choice to defer an IPO suggests it sees greater value in staying private while the crypto sector matures. By staying private, Ripple retains strategic independence, avoiding the demands of public-market scrutiny and focusing instead on growth and acquisitions.