Ripple Valued at $40B After New $500M Funding

Ripple Labs, the company associated with XRP, has just secured a fresh $500 million investment that now values the firm at around $40 billion. The funding marks one of the biggest rounds in the crypto space this year and signals growing trust in Ripple’s long-term vision.

Global Investors Back Ripple’s Growth

Earlier today, November 5, the leading blockchain-based fintech company confirmed that the new investment came from funds managed by affiliates of some of Wall Street’s biggest names. This includes Citadel Securities, Fortress Investment Group, and Brevan Howard. 

Their involvement shows that more traditional finance institutions are becoming confident in Ripple’s business model and its expanding role in global payments. 

Ripple said the funds will be used to grow its blockchain solutions. At the same time, strengthen its cross-border payment network, and support new projects linked to XRP. 

The company’s technology already helps banks and businesses move money faster and more cheaply across borders. Ripple has also expanded its service by adding OTC spot trading for major cryptocurrencies, including XRP and its RLUSD stablecoin. 

This comes as the firm recently launched a new digital asset spot prime brokerage platform for the U.S. market. 

This development has made it one of the few crypto firms with real-world financial use cases. 

Ripple CEO Expresses Confidence in the Future

In a recent X post, Ripple CEO Brad Garlinghouse commented on the funding raised. He described the investment as a strong endorsement of the company’s vision. 

Garlinghouse added that Ripple’s long-term focus remains on bridging traditional finance and blockchain technology. He reiterated that Ripple is focused on creating a more efficient and transparent global payment system.

Notably, this new funding comes just a day after Ripple announced its acquisition of Palisade, a crypto custody and wallet solutions provider. The move is part of Ripple’s ongoing effort to strengthen its services for institutional clients.

XRP Price Sees Modest Gain

After the announcement, XRP’s price traded slightly higher on Wednesday morning, reaching about $2.28 per coin. The token has had a strong year so far. In July, it broke its seven-year-old record to reach a new all-time high of $3.65. 

This rally was driven by optimism over clearer regulations and possible approval of U.S. exchange-traded funds (ETFs) linked to XRP. The digital asset has continued to attract major institutional investment, recording strong inflows totaling $61.6 million in October. 

Also, the end of the long-standing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple have boosted investor confidence.