The brief

Analyst view

• Founded 2012; manages XRP Ledger with 100B XRP total supply; 2,182 employees as of June 2026.
• RLUSD received NYDFS approval December 2024; reached $1.7B supply by Q2 2026.
• May 2026: $200M debt facility from Neuberger Berman for Ripple Prime margin trading; $40B valuation as of November 2025.

Technical approach

As reported

XRP Ledger

Native blockchain

XRP Ledger uses consensus (not proof-of-work) to validate transactions, settling in 4–5 seconds at throughput up to 1500 tx/sec.

RLUSD

Regulated stablecoin

RLUSD issued under NYDFS and DFSA oversight, backed 1:1 by USD cash and Treasuries, custodied by BNY Mellon.

ODL

On-Demand Liquidity

Ripple's payments product uses XRP to source liquidity for cross-border transactions, settling in minutes.