Ripple Says Fortress, Citadel Securities Invest $500 Million

Ripple has raised $500 million at a $40 billion valuation, with backing from Wall Street players betting on the infrastructure underpinning digital assets.

The round was led by funds affiliated with Fortress Investment Group and Citadel Securities, alongside Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace, the crypto-focused financial technology company said in a statement Wednesday.

Ripple said the new capital will bolster its expansion into custody, stablecoins and prime brokerage services, areas drawing increased institutional interest as regulated digital asset rails continue to evolve. The company has processed more than $95 billion in transactions ...