Key Notes
- Ripple is reportedly in talks to lease 90,000 square feet of office space at Brookfield’s One Leadenhall Tower in London.
- The deal could be among the priciest in London, at around £140 per square foot.
- Ripple is currently situated in Angel Court, in the same district.
American fintech Ripple Labs Inc. is reportedly in advanced talks to lease the upper floors of Brookfield Corp’s newest skyscraper in London’s financial district, continuing expansion strategy.
According to sources familiar with the negotiations, Ripple XRP $2.50 24h volatility: 1.4% Market cap: $149.82 B Vol. 24h: $4.74 B is seeking to rent about 90,000 square feet of premium office space at One Leadenhall, a 35-story development in the City of London.
One of the Most Expansive Deals in London
Bloomberg said that Brookfield is reportedly asking around £140 ($187.33) per square foot, placing the lease among the most expensive in the UK capital and on par with prime Mayfair properties.
If finalized, the deal would showcase how sharply London office rents have climbed since 2021, when law firm Latham & Watkins agreed to occupy the building’s lower floors at roughly £82.50 per square foot.
Ripple currently operates out of Angel Court, another tower in the same district. The company employs more than 900 people across 15 offices globally and has been steadily scaling its physical and digital footprint.
A Year of Aggressive Expansion
Ripple’s move to secure a new headquarters follows a $1 billion acquisition of GTreasury , a fintech firm specializing in treasury and risk management software.
The acquisition, announced on October 16, gives Ripple access to the multi-trillion-dollar corporate treasury market, enabling its clients to optimize liquidity, unlock idle capital, and participate in the global repo market via prime broker Hidden Road, which it had also acquired earlier this year.
Just a day earlier, Ripple also announced a partnership with Absa Bank to offer digital asset custody services in South Africa, a key step in expanding its footprint across the African continent in 2025.
Ripple’s $1 Billion Fundraise and Treasury Strategy
Last week, reports broke out of Ripple possibly raising up to $1 billion for an XRP-focused digital asset treasury (DAT). According to Bloomberg, the fundraising is being organized through a special purpose acquisition company (SPAC).
Ripple intends to purchase $1 billion worth of XRP for the treasury while adding a portion of its existing token reserves.
The American fintech company is also backing 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, making it one of the best cryptocurrency to invest in 2025.
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