Overview
- Ripple launched digital asset spot prime brokerage in the U.S., letting institutional clients execute OTC spot trades across dozens of assets, including XRP and RLUSD.
- Clients can cross‑margin spot positions with OTC swaps and CME futures/options, with unified access spanning foreign exchange, digital assets, derivatives, swaps, and fixed income.
- The rollout is the first major product integration since Ripple completed its roughly $1.25 billion acquisition of multi‑asset prime broker Hidden Road in October and rebranded it as Ripple Prime.
- Ripple said its RLUSD stablecoin has reached a $1 billion market capitalization, with XRP and RLUSD integrated for trading, settlement, and collateral use within the platform.
- XRP traded about 4% to 5% lower around the announcement, according to market data reported alongside the launch.