Ripple

What Ripple does

Ripple is a privately held financial infrastructure company founded in 2012 and headquartered in San Francisco, building enterprise-grade blockchain and digital asset products for banks, fintechs, payment service providers, and institutional clients. The company's technology centers on the XRP Ledger (XRPL), a public layer-1 blockchain with 12+ years of uptime that settles transactions in 3-5 seconds at fractions of a cent, processing over $3.3 billion in transactions and more than $1 trillion in value moved between counterparties. Ripple layers institutional services on top of this foundation, including RLUSD — a US dollar-backed stablecoin issued on XRPL and Ethereum under NYDFS and DFSA oversight with BNY Mellon as primary custodian — Ripple Custody (MPC- and HSM-based self-custody with FIPS 140-2 Level 4, ISO 27001, and SOC 2 Type II certifications), Ripple Prime (multi-asset prime brokerage clearing $3T+ annually across 300+ institutional clients, acquired from Hidden Road), Ripple Treasury Management (corporate treasury software acquired from GTreasury for $1B), and Ripple Tokenization for real-world assets.

The company monetizes through a combination of transaction fees on cross-border payments ($95B processed in 2025 across 60+ markets and 90% global FX coverage), stablecoin reserve income on RLUSD's $1.83B reserves, subscription and usage-based fees on custody and treasury software, and managed-services revenue from prime brokerage clearing and financing. Go-to-market is enterprise field sales across regional hubs in San Francisco, São Paulo, London, Singapore, Dubai, and Luxembourg, supplemented by an extensive channel-partner network (SBI VC Trade, Bitso, Onafriq, Tranglo, Mastercard, Zand Bank, Flutterwave, BBVA, DZ Bank) and developer relations via XRPL documentation and the open-source RLUSD GitHub repository. Ripple operates under 75+ global regulatory licenses and has executed a $500M funding round at a $40B valuation (Nov 2025), a $750M share buyback at a $50B valuation (Mar 2026), and four major acquisitions during 2025, while CEO Brad Garlinghouse has stated the firm remains private with no current IPO plans.

Name

Ripple

Legal name

Ripple Labs Inc.

Website

https://ripple.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Ripple is a private financial infrastructure company that provides stablecoin-powered cross-border payments, digital asset custody, RLUSD stablecoin, multi-asset prime brokerage, and treasury management to banks, fintechs, and institutional clients via the XRP Ledger.

Ownership category

akta.pro rank

Product category

Blockchain Financial Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)

akta.pro secondary industries

Tokenized Real-World Assets & On-Chain Treasuries (tokenized T-bills, money markets, cash management) (FSAPAEAJ), Invoice, Billing & Subscription Payments (Crypto) (FSADAIAG), Tokenized Collateral & On-Chain Credit Infrastructure (Collateral Mgmt, Liquidations) (FSAGAMAK), Tokenized Bank Deposit & Commercial Bank Money Issuers (FSADADAB), Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG), Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• Cross-border payments
• Digital asset custody
• Stablecoin issuance
• Prime brokerage
• Blockchain infrastructure

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure, Others

Revenue model

1. Cross-Border Payments Transaction Fees: Ripple Payments generates revenue through transaction fees on its cross-border payments platform that has processed over $100 billion in payments volume across 60+ markets. Fees apply to first- and third-party payouts in fiat or stablecoin.
2. Stablecoin (RLUSD) Reserve Income: RLUSD generates revenue through yield on reserves held in U.S. dollar deposits, U.S. Treasuries, and cash equivalents. As of May 28, RLUSD had an estimated $67.8 million in annual gross income from its $1.833 billion reserve balance. With $1.7 billion market cap, RLUSD supports payments, remittances, and on/off-ramp services.
3. Digital Asset Custody Platform Fees: Ripple Custody is sold as institutional-grade custody software with transparent, predictable pricing that grows with customer usage. Includes hot, warm, and cold vault configurations with MPC and HSM key management.
4. Prime Brokerage Services: Ripple Prime (formerly Hidden Road) generates revenue through multi-asset clearing, prime brokerage, portfolio financing, and risk-based margin financing across digital assets, FX, precious metals, exchange-traded derivatives, OTC swaps, and fixed income repo. Clears $3T+ annually across 300+ institutional customers.
5. Treasury Management Solutions: Ripple Treasury offers real-time cash visibility, AI-powered forecasting, and global risk management for corporate treasury operations.
6. RWA Tokenization Platform Fees: Revenue from tokenization infrastructure on the XRP Ledger enabling institutions to tokenize real-world assets including real estate and bonds.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Ripple provides enterprise-grade financial infrastructure built on the XRP Ledger, comprising stablecoin-powered cross-border payments (Ripple Payments), qualified digital asset custody (Ripple Custody), prime brokerage services for crypto-native firms (Ripple Prime), corporate treasury management, and real-world asset tokenization. The suite is anchored by RLUSD, a NYDFS-regulated USD stablecoin, and supports institutional on-chain credit, payments, and FX settlement across more than 90 markets.

Product overview

Ripple operates a unified financial infrastructure platform composed of six core product modules that work together to serve banks, fintechs, payment service providers, and crypto businesses across both traditional and digital assets. The platform centers on Ripple Payments for cross-border payments (settling on the XRP Ledger in 3-5 seconds with $100B+ processed), supported by Ripple Custody for institutional-grade digital asset safekeeping (MPC and HSM-based, FIPS 140-2 Level 4 certified), the RLUSD stablecoin for regulated USD onchain settlement (NYDFS chartered, multi-chain on XRP Ledger and Ethereum), Ripple Prime for institutional prime brokerage and multi-asset clearing (acquired via Hidden Road, $3T+ annual clearing), Ripple Treasury Management for AI-powered corporate treasury operations, and Ripple Tokenization for real-world asset tokenization on the XRPL. Together these modules form an end-to-end stack covering custody, issuance, exchange, settlement, prime brokerage, and treasury — all underpinned by the foundational XRP Ledger blockchain. Recent acquisitions of GTreasury, Palisade, Rail, and Hidden Road have expanded the platform into corporate treasury, multi-chain wallets, stablecoin infrastructure, and prime brokerage respectively.

Differentiator

Problem solved

Functional benefit

Brands

• Ripple USD (RLUSD): Ripple's US dollar-backed stablecoin, natively issued on the XRP Ledger and Ethereum, fully backed by cash and short-term US Treasuries, issued under a NYDFS trust charter.
• Ripple Payments
• Ripple Custody
• Ripple Prime
• Ripple Tokenization
• RippleNet

Products and services

• Ripple Payments

Quantifiable outcome

• 60+ markets with first- and third-party payouts
• +9 more outcomes

Named customers24 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

AI capability8 records

Feature8 records

Partnerships

28 partnerships are on record, tiered strategic - flagship partnership for rlusd distribution in japan and broader asia-pacific markets., strategic - flagship partnership for african expansion., strategic - flagship partnership for us-mexico corridor., strategic - high-profile institutional pilot., strategic - flagship global payments partnership., strategic - $200m acquisition., strategic - acquired company now part of ripple ecosystem., strategic - foundational acquisition creating ripple prime., strategic - major acquisition ($1b)., strategic - multichain interoperability., strategic - flagship tokenization partner., strategic - tokenization partner on xrpl., strategic - tokenization partner and customer., strategic - government/regulator partnership for cbdc pilot., minor - turkish distribution partners., strategic - charitable/cultural partnership., minor - technical partner for formal verification., strategic - kyt/compliance partners., minor - korean banking partner., strategic - prime brokerage venue integrations., strategic - key remittance partner., strategic - flagship banking partner., strategic - major banking partner., major - banking partner., major - banking partner for uae expansion., strategic - african payments partner., minor - regional distribution. and minor - research project participation..

• SBI Group / SBI VC Tradestrategic - flagship partnership for rlusd distribution in japan and broader asia-pacific markets.Channel Partner/ Reseller/ Distributor · 24 June 2026RLUSD was launched in Japan on June 24, 2026 following JFSA approval. SBI VC Trade serves as Japan's first licensed Electronic Payment Instruments Exchange Service Provider for stablecoins, providing RLUSD with a concrete distribution path into Japan's nearly $300 billion stablecoin market. The partnership extends Ripple's global RLUSD expansion following recent market access wins in Türkiye.
• Flutterwavestrategic - flagship partnership for african expansion.Strategic or Co-development Partner · 22 June 2026Ripple made a strategic investment in Flutterwave's Series E round at a $3.2 billion valuation. The partnership accelerates Flutterwave's stablecoin-enabled payments roadmap, including integration of Ripple's RLUSD stablecoin on the XRP Ledger for cross-border settlement across Africa. Flutterwave processes over $40 billion in payments and operates across 35 countries.
• Bitso / Junostrategic - flagship partnership for us-mexico corridor.Strategic or Co-development Partner · 13 June 2026Ripple and Bitso announced expansion of their partnership to deploy MXNB, a regulated peso-backed stablecoin issued by Bitso subsidiary Juno, natively on the XRP Ledger's Permissioned DEX, pairing it with Ripple's RLUSD to create a direct on-ledger USD/MXN settlement rail for the US–Mexico cross-border payments corridor. Targets annual remittance flows exceeding $60 billion between US and Mexico.
• JPMorgan / Ondo Financestrategic - high-profile institutional pilot.Strategic or Co-development Partner · 12 June 2026On June 12, 2026, JPMorgan, Mastercard, Ondo Finance, and Ripple completed a test that issued and redeemed a tokenized United States Treasury on the XRP Ledger, compressing a settlement that traditionally takes 3-5 business days into approximately 5 seconds. XRP was used only for fees and reserves, while RLUSD was the cash leg.
• Mastercardstrategic - flagship global payments partnership.Technology or Integration · 10 June 2026Mastercard launched an enterprise pilot called 'Agent Pay for Machines' with Ripple's XRP Ledger and planned RLUSD stablecoin serving as infrastructure backbone. Ripple unveiled its 'XRPL AI Starter Kit' for developers to build AI agents capable of autonomously sending and receiving payments using XRP and RLUSD.
• Railstrategic - $200m acquisition.Strategic or Co-development Partner · 11 December 2025Ripple completed a $200 million acquisition of stablecoin platform Rail amid a turbulent global geopolitical and financial market environment, expanding its stablecoin infrastructure capabilities.
• Palisadestrategic - acquired company now part of ripple ecosystem.Strategic or Co-development Partner · 4 November 2025Ripple acquired Palisade, a company specializing in digital asset custody and wallets, to enhance its institutional custody and payments services. The acquisition supports high-speed, multi-blockchain wallets that can interact with DeFi protocols, broadening Ripple's financial infrastructure offerings. Palisade appears as a tokenization partner on Ripple's website.
• Hidden Road (now Ripple Prime)strategic - foundational acquisition creating ripple prime.Strategic or Co-development Partner · 24 October 2025Ripple's acquisition of Hidden Road created Ripple Prime, the first global, multi-asset prime broker owned by a crypto company. Clears $3T+ annually across markets, serves 300+ institutional customers.
• GTreasurystrategic - major acquisition ($1b).Strategic or Co-development Partner · 17 October 2025Ripple acquired GTreasury for $1 billion to expand its presence in corporate treasury management, leveraging GTreasury's technology to enhance offerings in liquidity and digital asset management. Now integrated as Ripple Treasury offering.
• Wormholestrategic - multichain interoperability.Technology or Integration · 26 June 2025Ripple expanded multichain interoperability infrastructure with Wormhole integration, enabling seamless cross-chain movement between other leading tokens and blockchains.
• Ondo Financestrategic - flagship tokenization partner.Technology or IntegrationOndo Finance's OUSG tokenized Treasury fund is hosted on the XRP Ledger, with $259.6 million in tokenized U.S. Treasury assets. Tokenized Treasuries went live on XRPL with seamless mint & redemptions via Ripple's RLUSD Stablecoin.
• Zoniqxstrategic - tokenization partner on xrpl.Technology or IntegrationZoniqx is a Ripple partner enabling real-world asset (RWA) tokenization on the XRP Ledger.
• Archaxstrategic - tokenization partner and customer.Technology or IntegrationArchax provides regulated, institutional-grade RWA tokenization services on the XRP Ledger. Ripple Custody + IBM Cloud integration.
• Hong Kong Monetary Authority (HKMA)strategic - government/regulator partnership for cbdc pilot.Technology or IntegrationHong Kong's Monetary Authority selected Ripple for its inaugural e-HKD Pilot Programme, specifically for a use case focused on real estate asset tokenization and equity release.
• BiLira / Bitexen / Bitlominor - turkish distribution partners.Channel Partner/ Reseller/ DistributorRipple expanded RLUSD to Türkiye through partnerships with BiLira, Bitexen, and Bitlo as part of RLUSD's global expansion.
• Water.orgstrategic - charitable/cultural partnership.GTM or Marketing PartnerRipple and Water.org are collaborating on a charitable initiative using Ripple's RLUSD stablecoin and payment rails to transfer funds to microfinance partners funding water and sanitation projects. Matt Damon scheduled to appear at Ripple's Swell conference in NYC October 27-29 as keynote speaker.
• Common Prefixminor - technical partner for formal verification.Implementation/ SI/ Consulting PartnerRipple has partnered with Common Prefix to apply Lean4 for formal verification of lending protocol components on the XRP Ledger.
• Chainalysis / Ellipticstrategic - kyt/compliance partners.Technology or IntegrationRipple Custody integrates with Chainalysis and Elliptic for KYT (Know Your Transaction) monitoring to ensure compliance.
• K Bank (Korea)minor - korean banking partner.Channel Partner/ Reseller/ DistributorK Bank is strengthening global partnerships with Ripple as part of cross-border payments and blockchain infrastructure initiatives.
• EDX Markets / Coinbase Derivatives / Hyperliquid / Bullishstrategic - prime brokerage venue integrations.Channel Partner/ Reseller/ DistributorRipple Prime has expanded integrations with EDX Markets, Coinbase Derivatives, Hyperliquid, and Bullish for institutional multi-asset clearing and cross-margining.
• Tranglostrategic - key remittance partner.Channel Partner/ Reseller/ DistributorTranglo partners with Ripple Payments to accelerate cross-border payments, eliminating pre-funding requirements for partners in more than 20 countries.
• BBVA Switzerland / BBVA NewGenstrategic - flagship banking partner.Channel Partner/ Reseller/ DistributorBBVA Switzerland and BBVA NewGen leverage Ripple's digital asset custody platform fully integrated into core banking system, enabling private banking clients to combine traditional financial assets with digital assets.
• DZ Bankstrategic - major banking partner.Channel Partner/ Reseller/ DistributorDZ Bank uses Ripple Custody as the foundational digital asset custody platform meeting complex security, scalability, and future-proofness requirements.
• Travelex Bankmajor - banking partner.Channel Partner/ Reseller/ DistributorTravelex Bank uses Ripple's payment solutions for faster processes and new customer integrations.
• Zand Bankmajor - banking partner for uae expansion.Channel Partner/ Reseller/ DistributorZand Bank collaborates with Ripple on global payment solutions through blockchain technology, planning to launch an AED-backed stablecoin for the UAE digital economy.
• Onafriqstrategic - african payments partner.Channel Partner/ Reseller/ DistributorOnafriq (formerly MFS Africa) is a pan-African mobile payments network partner leveraging Ripple infrastructure for cross-border payments.
• FLOQ (Indonesia)minor - regional distribution.Channel Partner/ Reseller/ DistributorRipple's RLUSD stablecoin listed on FLOQ, a licensed digital asset platform in Indonesia, providing access to 1.8 million registered users.
• K Bank (Korea) - Pangea Projectminor - research project participation.Strategic or Co-development PartnerK Bank participates in 'Pangea' stablecoin cooperation project with Qivalis, SWIFT, and Chainlink, with Ripple supporting global partnerships for cross-border remittance infrastructure.

Scale indicators20 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Circle: Circle issues USDC, the dominant regulated dollar stablecoin, and provides treasury management, on-chain settlement APIs, and the Arc blockchain — directly competing with RLUSD, Ripple Payments, and Ripple Treasury on regulated stablecoins and cross-border payment rails.
• Fireblocks: Fireblocks provides institutional digital asset custody, settlement, and tokenization infrastructure used by banks and fintechs — directly comparable to Ripple Custody and the post-Metaco/Palisade stack on MPC-based custody and bank integrations.
• Paxos: Paxos issues regulated stablecoins (USDP, PYUSD for PayPal), provides institutional custody and tokenization services, and is NYDFS-chartered — directly comparable to RLUSD issuance and Ripple Custody for bank- and enterprise-grade tokenized assets.

Broad incumbents

• Coinbase: Coinbase is the largest US-regulated crypto exchange and custodian, offering Coinbase Prime (institutional prime brokerage), staking, custody, and USDC distribution — overlapping with Ripple Prime, Ripple Custody, and RLUSD distribution across institutional and consumer segments.
• PayPal: PayPal operates a global digital payments network and issues the PYUSD stablecoin, competing with Ripple Payments on cross-border consumer/merchant flows and with RLUSD as a regulated USD stablecoin for payments use cases.
• Stripe: Stripe is the dominant internet payment processor that has acquired stablecoin capabilities (Bridge, $1.1B) and supports USDC settlement — competing with Ripple Payments for global merchant and platform cross-border volume, with massive developer distribution.

Emerging players

• Galaxy Digital: Galaxy is a publicly-traded crypto financial services firm offering trading, prime brokerage, asset management, and digital asset treasury solutions — overlapping with Ripple Prime (institutional clearing) and Ripple Treasury (digital asset treasury for corporates).
• WisdomTree: WisdomTree issues tokenized money-market and real-world asset funds on public blockchains and offers a stablecoin (USDW), competing directly with Ripple's RWA tokenization and RLUSD strategy in regulated institutional markets.
• Ondo Finance: Ondo is the leading tokenized U.S. Treasury issuer (OUSG, OMMF) and has partnered with Ripple for mint/redemption on XRPL with RLUSD; it competes with Ripple's tokenization platform for institutional RWA flows and stablecoin-based settlement.
• Anchorage Digital: Anchorage is the first US OCC-chartered crypto bank providing institutional custody, trading, and staking services — competing with Ripple Custody and Ripple Prime for institutional digital asset custody and bank-grade infrastructure mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/ripple
• Facebookfacebook.com/rippleofficial
• LinkedInlinkedin.com/company/rippleofficial

Compliance17 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries6 records

Funding overview

Funding rounds18 records

Investors54 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A9 records

Investments65 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ripple