Key Takeaways
- Ripple secures $500 million investment to expand its services.
- Fortress and Citadel Securities lead the funding round.
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Ripple, a US-based blockchain firm expanding its institutional custody and wallet services through strategic acquisitions, secured a $500 million investment at a $40 billion, backed by top-tier institutional investors including funds affiliated with Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
Fortress, a crypto custody provider previously involved in blockchain infrastructure deals, partnered with Citadel Securities, a major market maker, to lead the funding round for the blockchain payments company.
The investment comes as Ripple has formed alliances with traditional finance players to bridge legacy systems with blockchain technology, enhancing cross-border payment solutions. Recent acquisitions by Ripple signal growing institutional interest in secure crypto storage and brokerage services within the US market.
