Ripple, the blockchain firm known for its ties to the XRP cryptocurrency, has been ranked the 23rd most valuable private company in the world with a valuation of $15 billion, according to business analytics firm CB Insights.
This places it in the same league as other tech and fintech giants like SpaceX and OpenAI, and just above companies such as Klarna and Anduril. The rankings, which exclude family-owned businesses, are topped by SpaceX at a $350 billion valuation.
Despite Ripple CEO Brad Garlinghouse’s past comments about a potential IPO, the company is not currently rushing to go public.
Following its lengthy legal battle with the U.S. Securities and Exchange Commission (SEC), Ripple President Monica Long has clarified that the company’s strong liquidity and financial position eliminate any immediate need for an initial public offering.
The fintech company is also seeking a Fed Master account, which would give it access to the Federal Reserve’s payments infrastructure and allow it to hold its stablecoin reserves directly with the central bank.
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