The payment company’s vows not to go public were repeated after it raised $500 million in November, which gave Ripple a $40 billion valuation.
Monica Long, the president of Ripple Labs, has said that the business will not go public since it is in a “really healthy position” without doing so.
Long discussed rumours that Ripple was going public when the business reached a $40 billion valuation in November during an interview with Bloomberg on Tuesday.
The president of Ripple claimed that the company was focused on expansion after Citadel Securities and Fortress Investment Group raised $500 million for it, which set its value.
Long stated, “Right now, we still plan to stay private,” adding to what she said in November after the fundraising. “Getting access to investors and the liquidity of the public markets is often the goal of an IPO. We are in a very good place to keep funding and investing in our company’s growth without going public.
Long’s comments about 2026 came months after the US Securities and Exchange Commission said it would stop taking action against Ripple, which led to rumours about an IPO. Long has said many times that Ripple was not trying to go public.
XRP was worth $2.20 at the time of writing, which was around 6% less than it was 24 hours earlier. The token is the fourth biggest cryptocurrency in terms of market cap.
OCC approvals for crypto trust banks
The US Office of the Comptroller of the Currency (OCC) conditionally authorised applications from Circle and Ripple for national trust bank charters in December. BitGo, Fidelity Digital Assets, and Paxos also received provisional approval to convert their state-level trust businesses into federally authorised national trust banks.
Ripple’s application noted that its charter would not allow it to produce stablecoins for its US dollar-pegged token, Ripple USD RLUSD$1. The other companies, on the other hand, will offer users a range of digital asset custody services. BitGo has said it wants to go public, and Circle had an IPO in May.