Citadel Securities and Fortress led a half-billion dollar investment that values Ripple at $40bn. The bet is not on crypto hype. It’s on the plumbing for bank-grade stablecoin payments, custody and prime brokerage.
On Wednesday, November 5, 2025 (PT), Ripple said it raised $500 million at a $40 billion valuation, led by funds affiliated with Fortress Investment Group and Citadel Securities. Other participants include Brevan Howard, Marshall Wace, Pantera, and Galaxy. The deal follows a $1bn tender offer earlier this year at the same valuation.
Ripple’s message is straightforward: the money will deepen ties with financial institutions and scale an “operating system” for dollar-based settlement—RLUSD (its US-dollar stablecoin),
