Despite a $40 billion valuation and a wave of public listings

This announcement contrasts with the growing number of cryptocurrency companies entering the public markets this year.

Ripple Decides to Exit the IPO Race

At the Swell Conference in New York, Ripple President Monica Long reiterated the company's decision not to pursue an IPO.

"We have no timeline for an IPO. No plan, no timeline," Long told Bloomberg.

She explained that Ripple is in a "fortunate" position, allowing it to fund both organic and inorganic growth, as well as strategic partnerships, without turning to the public markets.

Long told CNBC, "We're not focused on an IPO right now. We have a strong balance sheet, growing liquidity, and we're working on M&A and other large strategic partnerships."

Ripple has invested approximately $4 billion in strategic acquisitions and mergers. In the past two years, the company has completed six major deals.

The largest deal was the $1.25 billion acquisition of Hidden Road, which has now been rebranded as Ripple Prime. Other significant transactions include the $1 billion acquisition of GTreasury, the $200 million acquisition of Rail, and the recent acquisition of the digital asset custody platform, Palisade.

Meanwhile, Ripple's decision to remain private comes amid a $500 million funding round led by Fortress Investment Group, Citadel Securities, and Pantera Capital. This investment values ​​Ripple at $40 billion.

However, the chairman stressed that Ripple does not need to raise additional capital. The deal was made possible due to strong interest from institutional investors who wanted to acquire a stake in the company.

It's worth noting that Ripple has always rejected the idea of ​​going public. The company previously considered an IPO in 2023. However, it had to be postponed until 2024 due to legal challenges.

At that time, CEO Brad Garlinghouse also considered listing outside the US, but postponed these plans. Now, the company's latest statement indicates that a public listing is completely off the table.

From Circle to Kraken: The Crypto IPO Wave Gains Momentum

Although an IPO is not currently on Ripple's agenda, Chairman Long expressed support for other companies pursuing this path.

"We are very happy to see crypto companies going public; this is great for the continued growth of our overall industry," Long said. "We are very pleased to see crypto companies going public; this bodes well for the continued growth of our overall industry." "We are very pleased to see crypto companies going public; this bodes well for the continued growth of our overall industry." Growing institutional interest and a more favorable regulatory environment have fueled a surge in IPO plans among crypto companies this year. For example, stablecoin issuer Circle completed its IPO earlier this year, followed by Bullish, Gemini, and blockchain lender Figure Technology.