While the crypto industry is increasing its stock exchanges to gain legitimacy, Ripple is opting for another path. Against all expectations, its president Monica Long ruled out any IPO, despite a valuation of $40 billion and the end of the standoff with the SEC. Thus, contrary to the signals sent to the market, this refusal marks an assumed desire: to remain independent to better control its growth and governance, while consolidating its status in a rapidly changing regulatory landscape.
In brief
- Ripple officially rules out any IPO, despite a valuation reaching $40 billion.
- Monica Long, president of Ripple Labs, says the company is able to finance its growth without relying on public markets.
- This decision is surprising, as several recent signals suggested an imminent IPO.
- This positioning marks a clear desire to integrate into the traditional banking landscape while maintaining its strategic independence.
An IPO postponed: the financial strategy of a crypto giant
The end of the long legal battle with the SEC opens new prospects for Ripple. Thus, interviewed by Bloomberg this Tuesday, January 6, Monica Long, president of Ripple Labs, declared unambiguously: “For now, we still intend to remain a private company”.
An assertion which dispels the persistent rumors surrounding an IPO, fueled by the company's recent financial developments. Long clarified that Ripple does not need to use public markets to finance its growth: “we are in a very healthy financial situation, which allows us to continue to finance and invest in the growth of our company without going through the stock market”.
However, speculation was fueled by several concrete elements :
- A massive fundraising of $500 million in November 2025, led by Citadel Securities and Fortress Investment Group;
- A valuation of Ripple increased to $40 billion following this operation, reinforcing market expectations for a future IPO;
- The post-dispute context with the SEC, interpreted as a potential green light for an IPO;
- Comparisons with other players in the sector, such as Circle or BitGo, having already launched or considered their IPO.
Faced with these signals, Ripple opposes an independent growth strategy, without dependence on public markets to raise capital. The choice to remain private is assumed as a strategic positioning, allowing the company to maintain its flexibility and governance while continuing its international expansion.
A regulatory and banking shift behind the scenes
Beyond the IPO issue, Ripple is discreetly, but significantly, strengthening its regulatory positioning.
Last December, the Office of the Comptroller of the Currency (OCC) conditionally approved Ripple's application to operate as a national trust bank in the United States. A major development that would allow the company to offer institutional financial services under a federal charter.
It should be noted that Ripple clarified in its application that this structure will not be used to issue a stablecoin backed by the dollar, unlike some of its competitors such as Circle, also a beneficiary of this approval. This decision marks a step towards further integration of Ripple into traditional banking infrastructure, without implying a radical transformation of its economic model.
Regulatory recognition through the banking charter thus consolidates its status, while paving the way for new partnerships with traditional financial players. It is no longer a question of defending its legitimacy, but of redefining its role in the banking ecosystem of tomorrow.
Ripple had already given up on going public despite its victory against the SEC. This choice, now confirmed, charts the path to controlled growth, far from the constraints of public markets. It remains to be seen whether this strategy will hold up in the face of investor pressure and the evolution of the global regulatory framework.
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