Ripple Valued at $15B, Ranked Among World’s Largest Private Companies

San Francisco-based blockchain firm Ripple has secured the 23rd spot on CB Insights’ list of the world’s biggest private companies by market capitalization. Known for its association with the XRP cryptocurrency, Ripple’s valuation stands at $15 billion, placing it ahead of Swedish fintech Klarna ($14.5 billion) and defense technology company Anduril ($14 billion), backed by Oculus founder Palmer Luckey.

Other notable blockchain and crypto companies on the list include NFT marketplace OpenSea, mining hardware giant Bitmain ($12 billion), and cryptocurrency exchange KuCoin ($10 billion). Topping the ranking is SpaceX, valued at $350 billion and holding around $850 million in Bitcoin. TikTok owner ByteDance and AI leader OpenAI follow closely, each with a $300 billion valuation. Traditional family-owned giants like Mars, Cargill, Koch Industries, and Bosch are excluded from the VC-focused ranking.

Ripple’s potential IPO has been a topic of speculation since 2020, when CEO Brad Garlinghouse expressed interest in leading the wave of crypto public listings. However, the company became embroiled in a years-long legal battle with the U.S. Securities and Exchange Commission (SEC), which recently concluded. Despite resolving the dispute, Ripple has no immediate plans to go public. According to President Monica Long, the company maintains strong liquidity and does not require an IPO to fund operations.

Ripple’s position in the top tier of global private companies underscores its growing influence in the blockchain and fintech sectors. With a robust valuation and a strategic focus beyond public markets, Ripple continues to strengthen its role in driving adoption of XRP and blockchain-based payment solutions worldwide.