Ripple vs Anchorage Digital: employee equity compared
Secondary market prices, valuation trajectory, equity structure, and liquidity outlook for employees choosing between Ripple and Anchorage Digital.
Ripple
Blockchain-based global payment network and issuer of the XRP digital asset.
IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.
Crypto-adjacent with cycle sensitivity; ISO/NSO options; liquidity tracks market conditions
Anchorage Digital
Federally chartered digital asset bank and custody platform for institutions — the first US crypto company to receive an OCC national bank charter (Jan 2021).
No near-term IPO expected. Company likely 2028+ at earliest; patient equity required.
Crypto-adjacent with cycle sensitivity; ISO/NSO options; liquidity tracks market conditions
Key differences for employees
Equity structure
Ripple grants ISO/NSO with strike prices ranging from $8–$20 depending on your grant year. Anchorage Digital grants ISO/NSO with strike prices from $11–$20.
Secondary market signal
Ripple has no recent verified secondary signal — only the primary round ($11.3B) is shown. Anchorage Digital has no recent verified secondary signal. A higher secondary premium typically signals stronger investor demand and potentially better near-term liquidity for employees looking to sell.
Revenue and growth
Ripple runs at $0.6B ARR, growing +25% YoY (solid). Anchorage Digital runs at $0.1B ARR, growing +20% YoY (solid). Revenue growth rate matters for equity because it drives the peer-multiple valuation — the method most correlated with exit multiples.
Liquidity timeline
Ripple: IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.
Anchorage Digital: No near-term IPO expected. Company likely 2028+ at earliest; patient equity required.
Calculate your specific grant
Enter your actual shares, equity type, and strike price. PrivatePulse calculates your personal equity value using peer-multiple, secondary-market, time-decay, and sector-momentum methods.