Citadel, Fortress back Ripple’s $500M raise at $40B valuation

Ripple’s massive valuation backed by Citadel and Fortress highlights rising Wall Street confidence in blockchain and stablecoin innovation.

Blockchain payments company Ripple has been valued at $40 billion following new equity investments from Citadel Securities and Fortress Investment Group, underscoring the growing appeal of blockchain technology among mainstream financial institutions.

According to a Financial Times report on Wednesday, Ripple raised $500 million from several investors in its latest funding round, which cemented the lofty valuation. The deal signals a broader shift as established Wall Street firms move to gain exposure to the digital payments and blockchain sector despite ongoing market pressures. 

Other investors included hedge fund Brevan Howard and crypto-focused venture capital companies Pantera and Galaxy Digital. 

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