Svmuu News: Blockchain payments company Ripple has initiated a share repurchase program worth up to $750 million, valuing the company at approximately $50 billion, according to sources familiar with the matter.

The buyback will be conducted through a tender offer, allowing investors and company employees to sell their shares back to the company. This repurchase program is expected to last until April of this year. Bloomberg was the first to report this news.

This buyback program comes shortly after Ripple's attempt in October last year to repurchase $1 billion in shares at a $40 billion valuation. At that time, participation was relatively limited as some private shareholders were unwilling to sell their shares.

Ripple's most recent funding round occurred in November last year, when the company completed a $500 million strategic funding round, also at a $40 billion valuation. This round was led by funds associated with Fortress Investment Group and Citadel Securities, with participation from institutions such as Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.

Ripple President Monica Long stated earlier this year that the company currently has no plans for an IPO, emphasizing Ripple's strong financial position and its preference for continued expansion through mergers and acquisitions and product development.