sandmark.com
Blockchain payments firm Ripple has launched a share buyback programme of up to $750mn, implying a company valuation of about $50bn, according to a Bloomberg report on 11 Mar. The move marks the latest in a series of tender offers the private infrastructure firm has used to provide liquidity to early investors and employees.
The company has periodically repurchased shares while continuing to operate as a private entity. Ripple previously bought back about $285mn in shares in Jan 2024.
Chief executive Brad Garlinghouse has stated that a public listing is not a huge priority because the company can fund growth organically. This approach highlights how top-tier crypto firms are sustaining massive valuations without tapping US public markets.
XRP, the native token of the company, was little changed over the past 24 hours. It traded at $1.39 at 22:00UTC, with a market capitalization of about $85.1bn, according to CoinMarketCap data.