Key Points
- Ripple Labs Inc. is in advanced negotiations to lease upper floors of Brookfield Corp’s new skyscraper in London.
- Ripple’s aggressive expansion continues with a $1 billion acquisition of GTreasury and a partnership with Absa Bank.
Ripple Labs Inc., an American fintech company, is reportedly in the final stages of discussions to lease the top floors of Brookfield Corp’s latest skyscraper in London’s financial district. This move is part of Ripple’s ongoing expansion strategy.
Sources close to the negotiations indicate that Ripple is looking to rent approximately 90,000 square feet of high-end office space at One Leadenhall, a 35-story development in the City of London.
One of London’s Most Expensive Leases
Brookfield is reportedly asking around £140 ($187.33) per square foot for the lease, which would make it one of the most costly in the UK capital, comparable to prime Mayfair properties. This deal, if finalized, would highlight the steep increase in London office rents since 2021.
Ripple currently operates from Angel Court, another tower in the same district. The company has over 900 employees across 15 global offices and has been consistently expanding its physical and digital presence.
Year of Rapid Expansion
Ripple’s move to secure a new headquarters follows its $1 billion acquisition of GTreasury, a fintech firm specializing in treasury and risk management software. This acquisition, announced on October 16, gives Ripple access to the multi-trillion-dollar corporate treasury market.
A day prior to this, Ripple also announced a partnership with Absa Bank to offer digital asset custody services in South Africa. This is a crucial step in expanding its footprint across the African continent in 2025.
Ripple is also reportedly raising up to $1 billion for an XRP-focused digital asset treasury (DAT). The fundraising is being organized through a special purpose acquisition company (SPAC). Ripple plans to purchase $1 billion worth of XRP for the treasury while adding a portion of its existing token reserves.
Ripple is also supporting Evernorth, a company established to hold XRP and go public via a SPAC merger. Backed by SBI Holdings with a $200 million investment, Evernorth aims to give institutional investors indirect exposure to XRP without holding the token directly. This makes it one of the best cryptocurrencies to invest in 2025.
