Ripple has reaffirmed it has no plans for an initial public offering even after raising $500 million at a $40 billion valuation in November 2025, The Block reported on Monday.

Monica Long, Ripple's president, said in an interview with Bloomberg News on Monday that the company still plans to remain private. She said companies usually seek a listing to raise funds and secure liquidity through public markets, but Ripple is already in a very healthy financial position.

Long described the structure of the latest fundraising as being on very favorable and positive terms for Ripple, but declined to comment on why specific conditions such as investor protection clauses were needed. The November 2025 funding round included institutions and crypto-focused funds such as Fortress Investment Group and Citadel Securities.

Ripple is accelerating its evolution into an enterprise digital-asset infrastructure platform after completing 4 acquisitions in 2025. It acquired global multi-asset prime broker Hidden Road, stablecoin payments platform Rail, corporate treasury management system GTreasury, and digital-asset wallet and custody company Palisade last year.

Long said Ripple's strategy is to build products. She said the company will provide technology that connects traditional finance so blockchain, cryptocurrencies, stablecoins and other tokenised assets can be used in useful ways in the real world.