Ripple announced on Wednesday that it has raised $500 million in a new funding round, valuing the digital assets and infrastructure firm at $40 billion.
The round was led by funds managed by affiliates of Fortress Investment Group and Citadel Securities, with additional participation from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace, according to the company.
The investment follows a recent $1 billion tender offer at the same valuation, which provided liquidity for shareholders and employees.
Ripple said the new capital will help strengthen relationships with institutional partners and support the company’s continued expansion into custody, stablecoins, prime brokerage, and treasury services.
“This investment 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,” Ripple CEO Brad Garlinghouse said in a statement.
“We started in 2012 with one use case - payments - and have expanded that success into custody, stablecoins, prime brokerage and corporate treasury, leveraging digital assets like XRP. Today, Ripple stands as the partner for institutions looking to access crypto and blockchain.”
Founded in 2012, Ripple has developed a suite of digital asset solutions leveraging its native cryptocurrency, XRP, and its U.S. dollar-pegged stablecoin Ripple USD (RLUSD).
The company said its Ripple Payments platform has now processed more than $95 billion in total volume, with RLUSD recently surpassing a $1 billion market capitalization.
Ripple has also been active in acquisitions this year, spending more than $4 billion in 2025 on firms such as Hidden Road, now operating as Ripple Prime, and GTreasury, expanding its footprint in prime brokerage, collateral management, and corporate treasury services.