Ripple Launches $750M Buyback at $50B Valuation, Bloomberg Reports
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The $50 billion valuation is 25% higher than the $40 billion figure attached to Ripple's November funding round. That round raised $500 million from investors including Fortress Investment Group affiliates, Citadel Securities affiliates, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. The higher valuation comes despite a downturn in the broader crypto market. Ripple has grown through a series of large acquisitions over the past year. The company paid approximately $1.25 billion to acquire prime brokerage Hidden Road. It also purchased corporate treasury platform GTreasury for $1 billion and stablecoin platform Rail for $200 million. The company said it has deployed around $4 billion into the crypto ecosystem through investments and acquisitions. Ripple also announced this week a planned acquisition of BC Payments. That deal is intended to secure an Australian Financial Services License. The move is part of the firm's push to expand in the Asia-Pacific region.
