Ripple's IPO Plans Uncertain Amid Strong Financial Position

According to Foresight News, Ripple President Monica Long stated during an interview at the Ripple Swell conference in New York that the company currently has no plans or timeline for an initial public offering (IPO). Long emphasized Ripple's strong financial standing, which allows the company to fund its organic and inorganic growth, strategic partnerships, and other initiatives. While she did not disclose Ripple's revenue projections for 2024, Long noted that the company's client base has doubled quarter-over-quarter, attributing this growth to the increasing adoption of stablecoin payments and clearer regulatory policies. Previously, Foresight News reported that Ripple announced the completion of a $500 million funding round on Wednesday, valuing the company at $40 billion. The funding was led by Fortress Investment Group and Citadel Securities' funds, with participation from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.