Ripple Touts November Fundraise, No Plans for IPO

Bloomberg

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00:00I just want to start with that $500 million share sale back in November at a $40 billion

00:04valuation. Give us an update in the couple of months since then. What have you done with the

00:08money so far? Thank you so much for having me. Happy New Year. So yes, we were very pleased with

00:16the fundraise in Q4. And you'd also mentioned, you know, 2025 was a big year for Ripple for both

00:23our organic growth and then also inorganic. So we had acquired four companies last year

00:29with the fundraise as well. We are now focused on integrating those businesses and continuing to

00:36grow. I wanted to get some more color on the fundraising specifically because it included

00:43this one structure, certain protections, the right for those companies that you sold shares to,

00:48to sell shares back to Ripple at a guaranteed price and guaranteed return and preferential

00:55treatment should a major event like a bankruptcy or sale occur. Can you give us a little more

01:00context, a little more color on why you were willing to offer those terms?

01:05So the overall structure for the fundraise is very, very positive, very favorable for Ripple.

01:13We were really pleased to welcome Fortress and Citadel onto our cap table in addition to a number

01:18of other crypto native premier funds. And what they really saw was that our business is working.

01:26You know, our strategy of creating digital asset infrastructure for businesses and financial

01:31institutions alongside the inflection point that stable coin payments hit last year was,

01:38you know, something that they wanted to be a part of. And as we point more toward applying these

01:44technologies to the world of capital markets, having investors like Citadel and Fortress and others

01:50are great strategic partners on that front.

01:53Right. I hear the case for why they wanted to be part of the Ripple story. But I'm wondering,

01:57in terms of the structure of the deal offering those protections, was it necessary to get that deal

02:02done and to secure a big valuation?

02:04To my knowledge, they were excited to be a part of, to be investors in Ripple. And we were very

02:14pleased with how the terms of the deal panned out.

02:17Hey, Monica, one thing that's interesting about Ripple as a company is that much of the perceived

02:22value is tied up in XRP, the cryptocurrency that Ripple owns. Talk a little bit about diversification.

02:30You mentioned acquisition of late, but how are you diversifying moving forward?

02:35So the whole strategy of our company is to create products. So the connective tissue that

02:44traditional finance needs to make blockchain and cryptocurrencies and stable coins, all these

02:50tokenized assets, to make them actually useful and applicable in the real world. You need a host of

02:59different components, such as secure digital asset custody, compliant on and off ramps. I mean,

03:06a big part of our strategy has also been compliance first. So we've acquired a book of 70 plus licenses

03:12around the world to facilitate those flows for our customers. And so, you know, bringing all of that

03:19together for our clients has been what we're focused on.

03:23You said back in November, a couple months ago, that the company has, quote, no plan, no timeline

03:28for an IPO. Obviously, with these new investors and with existing investors, they're ultimately going to want to

03:34see a return on that investment. Can you give us an update on the IPO?

03:40Currently, we still plan to remain private.

03:44You know, often the strategy driving an IPO is to get, you know, the access to the investors and the liquidity of

03:53the public markets and between the strength of our balance sheet standalone, which is really, you know, what we've been

03:59able to leverage to make these acquisitions alongside interest from strategics like Citadel and Fortress.

04:06We're in a really healthy position to continue to fund and invest in our company's growth without going public.

04:12We're in a really healthy position.

04:13We're in a really healthy position.

04:14We're in a really healthy position.

04:15We're in a really healthy position.

04:16We're in a really healthy position.

04:17We're in a really healthy position.

04:18We're in a healthy position.

04:19We're in a healthy position.

04:20We're in a healthy position.

04:21We're in a healthy position.

04:22We're in a healthy position.

04:23We're in a healthy position.

04:24We're in a healthy position.

04:25We're in a healthy position.

04:26We're in a healthy position.

04:27We're in a healthy position.

04:28We're in a healthy position.

04:29We're in a healthy position.

04:30We're in a healthy position.

04:31We're in a healthy position.

04:32We're in a healthy position.

04:33We're in a healthy position.

04:34We're in a healthy position.

04:35We're in a healthy position.

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