Ripple attracted $500 million at a valuation of $40 billion
The fintech company #Ripple announced the attraction of strategic investments amounting to $500 million at a valuation of $40 billion from major institutional players.
The investors included funds Citadel Securities, Fortress Investment Group, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
“The deal followed Ripple's most successful year to date and a recent tender offer of $1 billion at the same valuation, highlighting the ongoing confidence in the growth trajectory and long-term vision of the project,” the press release states.
The company also highlighted several other achievements:
Transaction volume through payment systems exceeded $95 billion;
RLUSD's capitalization surpassed $1 billion;
six strategic acquisitions over two years;
25% of shares purchased;
Ripple Prime's business growth by three times;
75 licenses from regulatory authorities have been obtained worldwide.
“We started in 2012 with one use case — payments — and expanded that success to custody, stablecoins, primary brokerage, and corporate treasury, using digital assets like XRP,” said Ripple CEO Brad Garlinghouse.
The attracted capital will help strengthen ties with traditional financial giants, the company believes. Especially after the adoption of cryptocurrency-friendly laws, such as the GENIUS Act.
Recall that in early November, Ripple announced the purchase of custody solutions developer Palisade. The deal will expand the functionality of the firm's digital asset storage service.
In October, the company announced the acquisition of treasury management systems provider GTreasury for $1 billion.$XRP $BTC $BNB
