What Makes Ripple One of the World’s Biggest Private Companies in 2025?

Ripple has just secured a major spot on the global map. 

The blockchain company is now ranked the 23rd biggest private company in the world, with a valuation of $15 billion, according to CB Insights. That puts it ahead of Klarna and defense-tech firm Anduril and marks a big moment not just for Ripple, but for the crypto industry as a whole.

For a company that spent the last few years in the middle of a legal battle with the SEC, this ranking shows just how far Ripple has come and how much more it’s aiming for.

Here are the details. 

Ripple’s New Rank: What It Really Means

The CB Insights ranking is based on market valuation, and Ripple’s entry into the top 25 is no small feat, especially considering it’s out of a list of 1,276 unicorn companies.

It’s one of the few blockchain firms to make the list, standing above Klarna ($14.5B) and Anduril ($14B), which is backed by Oculus founder Palmer Luckey.

Ripple is best known for its role in powering XRP and cross-border payment solutions. 

But the company has steadily moved beyond that, growing its enterprise products and expanding into global markets. 

The Global List: Who Else Is On It?

Topping the list is SpaceX, with a $350 billion valuation and nearly $948 million in Bitcoin on its books. ByteDance and OpenAI follow close behind, each valued at $300 billion.

Ripple isn’t the only crypto firm on the list. 

OpenSea, Bitmain ($12B), and KuCoin ($10B) also feature. But Ripple leads the pack when it comes to blockchain-based financial infrastructure and that’s what sets it apart.

What’s Driving Ripple’s Strong Position?

Ripple’s rise is a result of a few major developments that have strengthened the company’s foundation. Here’s what’s working in its favor:

• SEC Case Nears Finale: On May 8, Ripple settled with the SEC for $50 million, requesting the court to lift restrictions and release frozen funds. A final decision is expected around August 15.
• Ripple Payments Upgrade: What started as a cross-border payments tool has now become a full platform offering tokenized services for enterprises.
• UAE Expansion: Ripple is moving deeper into the Middle East through new deals with Zand Bank and Mamo, aiming to make cross-border payments faster and more efficient.
• MiCA License Plans: Ripple has confirmed it will apply for a MiCA license to expand operations across the European Economic Area. 
• U.S. Trust Bank Filing: Ripple has also applied to the U.S. Office of the Comptroller of the Currency to set up a limited-purpose national trust bank. The bank would support Ripple’s RLUSD stablecoin and build out tokenized finance infrastructure. 
• XRP Price Outlook: According to Google’s Gemini model, XRP could hit $4.45 by August 31, backed by strong technical patterns and market momentum.
• Stablecoin Trust: Ripple’s RLUSD stablecoin was recently ranked the #1 ‘Most Trusted’, a big boost!
• Community & Transparency: Ripple continues to benefit from a strong and vocal community, backed by a reputation for openness.

So, Will Ripple Go Public?

Not anytime soon. 

Ripple CEO Brad Garlinghouse has ruled out any plans for an Initial Public Offering (IPO) in 2025. Speaking at the CfC St. Moritz conference, a well-known gathering for leaders in blockchain and digital assets, Garlinghouse made it clear that going public isn’t on the table this year.

President Monica Long confirmed that Ripple has “plenty of liquidity” and doesn’t need to raise money through an IPO right now. The focus, for now, is on growth and not going public.