Ripple, the US blockchain company behind the XRP cryptocurrency, will not pursue an initial public offering following the conclusion of its years-long legal battle with the Securities and Exchange Commission.

Ripple president Monica Long said the company has no plans or timeline for an IPO,

Long’s remarks came as Ripple announced a $500 million strategic investment from high-profile institutional investors, including Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace.

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The raise follows Ripple’s “strongest year to date” and a $1 billion tender offer, valuing the company at $40 billion.

“As Ripple continues its record year of growth, providing liquidity for shareholders and employees remains a priority,” Ripple said in the $500 million raise announcement, adding that it has repurchased more than 25% of its outstanding shares in recent years.

Ripple CEO Brad Garlinghouse announced that the SEC was dropping its multi-year action against the company in March. He previously hinted at a potential IPO in 2020, calling it a “natural evolution” for Ripple.

Cointelegraph approached Ripple for comment regarding its IPO position, but had not received a response by the time of publication.

Though Ripple isn’t eyeing an IPO soon, other major crypto firms, including USDC (USDC) issuer Circle, Bullish and Gemini have gone public in 2025.

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