Ripple has received a $40 billion valuation after raising

📌 Ripple has received a $40 billion valuation after raising $500 million, led by Fortress and Citadel.

Ripple announced Wednesday that it has received $500 million in a strategic investment round led by entities affiliated with Fortress Investment Group and Citadel Securities, raising its valuation to approximately $40 billion. . Ripple

The proceeds follow a recently completed $1 billion share repurchase offer at the same valuation, and are being used to strengthen the company’s institutional infrastructure, including payments, custodial services, stablecoins and corporate treasury mechanisms.

Ripple CEO Brad Garlinghouse emphasized in a comment that the investment demonstrates Ripple’s impressive growth and validates the market opportunities we are focused on pursuing.

The company, founded in 2012, said the capital raised will be used to strengthen its relationships with financial institutions and expand its stablecoin (CRYPTO: $RLUSD ) portfolio, bring liquidity back into its ecosystem and accelerate the development of its product portfolio, which includes asset custody, prime brokerage and international transfers.