Ripple has raised $500mn from investors including Ken Griffin’s Citadel Securities and Fortress Investment Group, valuing the stablecoin company at $40bn.

Ripple is seeking to become a major player in stablecoins and stablecoin infrastructure. The San Francisco-based company was founded in 2012 and has grown to provide services including payments and custody to fintechs and large corporate clients. The company runs its own stablecoin, RLUSD, which has a nominal market value of $1bn, and a cryptocurrency, XRP, that circulates at $133bn and is the fourth-biggest token in the world. 

They act as a form of digital cash and are mainly used by traders to quickly move between crypto tokens and traditional currencies, while large companies are exploring using them to facilitate cross-border payments and collateral management.

It said 2025 had been its best year and the value of payments made on its platform had surpassed $95bn. 

Ripple has made several acquisitions in recent years as it seeks to expand its activities. This year it has bought crypto prime broker Hidden Road for $1.25bn, corporate treasury management company GTreasury for $1bn and stablecoin infrastructure provider Rail for $200mn.

The US under Donald Trump has embraced the crypto industry. Congress passed landmark rules overseeing the stablecoin sector this year, paving the way for traditional Wall Street players to be more involved with the tokens.