The American blockchain company Ripple—the enterprise behind the XRP cryptocurrency—has announced that it will not seek an initial public offering (IPO) after concluding a years-long legal battle with the U.S. Securities and Exchange Commission.
Ripple President Monica Long stated in a Bloomberg report on Wednesday that the company currently has no plans or timeline for an IPO.
"We are in a very favorable position to secure ample capital support, sufficient to fund all organic growth, inorganic growth, strategic partnerships, and any plans we wish to implement," Long said.
Ripple's decision to forgo an IPO ends years of market speculation, as several company executives had previously hinted at intentions to go public. The company faced a $1.3 billion lawsuit from the SEC at the end of 2020.
As a private company, Ripple does not disclose complete annual profit or revenue figures. According to estimates from market intelligence platform CBI Insights, Ripple's revenue for 2024 is projected to be around $1.3 billion.
Long declined to share specific financial data for 2024 in the report but noted that the number of company clients has doubled, primarily due to the widespread adoption of the RLUSD stablecoin and the increasingly clear global regulatory environment.
Long's comments come as Ripple announced a $500 million strategic investment, with investors including several well-known institutional investors such as Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
This funding follows what Ripple described as "its best-performing year to date," during which the company also received a $1 billion acquisition offer, bringing its valuation to $40 billion.
"As Ripple continues to set new growth records, providing liquidity for shareholders and employees remains our top priority," Ripple stated in the $500 million funding announcement, adding that the company has repurchased over 25% of its outstanding shares in recent years.
Ripple CEO Brad Garlinghouse announced in March that the SEC had terminated its years-long lawsuit against the company. He had hinted at potential IPO plans in 2020, describing it as a "natural evolution" for Ripple's development.
Cointelegraph sought comments from Ripple regarding its IPO stance but had not received a response by the time of publication.
Although Ripple is not currently considering an IPO, other major companies in the crypto industry, including USDC issuer Circle, Bullish, and Gemini, have successfully gone public in 2025.
Related: Wall Street's Calculation: What Does $500 Million Buy Ripple?
Original: “Despite Winning the SEC Case, Ripple Still Rejects IPO Plans, Reasons Revealed”
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