Ripple Stays Private, Surprising Crypto Investors

While the crypto industry is multiplying IPOs to gain legitimacy, Ripple opts for a different path. Against all odds, its president Monica Long has dismissed any IPO, despite a valuation of 40 billion dollars and the end of the showdown with the SEC. Thus, contrary to the signals sent to the market, this refusal marks a clear intention : to remain independent in order to better control its growth and governance, while consolidating its status in a rapidly changing regulatory landscape.

A postponed IPO : 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”.

A statement that dispels persistent rumors about an IPO, fueled by the company’s recent financial developments. Long specified that Ripple does not need to resort to public markets to finance its growth : “we are in a very healthy financial situation, which allows us to continue funding and investing in our company’s growth without going public”.

Speculations were nevertheless fueled by several concrete elements :

• A massive fundraising of 500 million dollars in November 2025, led by Citadel Securities and Fortress Investment Group ;

• A Ripple valuation raised to 40 billion dollars following this operation, increasing market expectations for a future IPO ;

• The post-litigation context with the SEC, interpreted as a potential green light for an IPO ;

• Comparisons with other industry players, such as Circle or BitGo, who have already launched or planned their IPO.

Faced with these signals, Ripple opposes an independent growth strategy, without reliance on public markets to raise capital. The choice to remain private is assumed as a strategic stance, allowing the company to keep its flexibility and governance while continuing its international expansion.

A regulatory and banking shift behind the scenes

Beyond the IPO question, Ripple is discreetly but significantly strengthening its regulatory positioning.

Last December, the Office of the Comptroller of the Currency (OCC) conditionally approved Ripple’s request 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 specified in its request that this structure will not be used to issue a dollar-backed stablecoin, unlike some of its competitors such as Circle, which also obtained this approval. This decision marks a step towards deeper integration of Ripple into the traditional banking infrastructure, without implying a radical transformation of its business model.

Regulatory recognition through the banking charter thus consolidates its status while opening the way to new partnerships with traditional financial players. The focus is no longer on defending its legitimacy but on redefining its role in tomorrow’s banking ecosystem.

Ripple had already renounced going public despite its victory against the SEC. This now confirmed choice paves the way for controlled growth, away from the constraints of public markets. It remains to be seen if this strategy will hold up against investor pressure and the evolving global regulatory framework.