#Ripple Company raises $500 million, boosting its market value to $40 billion

#XRP announced that it has raised $500 million in a funding round led by Fortress and Citadel Securities, bringing the company's estimated valuation to around $40 billion.

This follows a previous $1 billion funding offer the company made earlier this year at the same valuation.

Ripple is benefiting from the new regulatory approach in the United States following the passage of the #ريبل law, which established a clear framework for stablecoins. This has encouraged larger financial institutions to adopt Ripple USD #GENIUS (#RLUSU for treasury payments and collateral management.

The company confirmed that the new funding will support the expansion of its services, including digital custody, stablecoins, prime brokerage, and corporate treasury solutions, amid increasing fintech adoption of stablecoins to facilitate payments and accelerate global settlements.

According to the company, the current U.S. administration's openness toward cryptocurrencies provides Ripple with an opportunity to expand the use of its token )$XRP and strengthen its presence in capital markets.
CEO Brad Garlinghouse stated that the investment reflects "the company's accelerating momentum and the significant market opportunity it aims to capture."

Source: Reuters