Cryptocurrency payments company Ripple has just made a revolutionary move in the market Digital asset market in the United Statesputting XRP and its stablecoin RLUSD at the forefront of institutional finance. The company has officially launched Ripple Prime in the US, a novel brokerage firm designed to offer clients a streamlined gateway to secure trading and settlement through the operate of both XRP and RLUSD. The latest launch marks a significant milestone in the company’s mission to expand product offerings and enhance usage, redefining how the United States interacts with digital assets.
Ripple Prime debuts in the US with XRP and RLUSD integration
On November 3, Ripple issued a press release announcing launching a novel prime brokerage service on the digital assets market for American institutional clients on the official website. The discovery comes from a crypto company the recent Hidden Road takeoverformer well-known multi-asset brokerage firm. The platform, now fully integrated under the name Ripple Prime, will offer institutions a wide range of services, including brokerage, settlement and financing.
With this groundbreaking launch, the platform will support all major types of digital assets in the US, enabling users to fulfill their needs Over-the-counter (OTC) cash transactions. in multiple cryptocurrencies including XRP and RLUSD. Through exploitation Ripple broker licenses and advanced Hidden Road infrastructure, Ripple Prime is expected to provide institutions with a unified platform with simple access Currency exchange (FX)digital assets, derivatives, swaps and fixed income products.
Michael Higgins, international chief executive officer (CEO) of Ripple Prime, stated in a press release that the novel OTC spot execution functionality complements Ripple’s existing portfolio of OTC and cleared transactions. derivatives services for digital assets. He explained that the latest expansion strengthens the cryptocurrency payments company’s ability to meet the digital asset needs of institutional clients and support their evolving trading strategies.
Going forward, the payments company highlighted that Ripple Prime will enable institutions to cross margins on spot transactions and OTC positions with other parts of their portfolio such as swaps or Chicago Mercantile Exchange (CME) futures. and options. Notably, the crypto company’s acquisition of Hidden Road laid the foundation for this novel system, integrating established prime broker capabilities with blockchain-based innovations.
Ripple Prime is also one of the company’s many acquisitions. In early October, CEO Brad Garlinghouse distinguished the company’s five most significant acquisitionsincluding GTReasury, Rail, Metaco, Standard Custody and Hidden Road. Collectively, these strategic additions underscore the crypto company’s broader efforts to expand its institutional offerings and strengthen its position in the market global payments industry.
RLUSD market capitalization exceeds $1 billion
In another announcement about X, a payments company revealed that this RLUSD coin it achieved a market capitalization of over $1 billion just one year after its launch. The company described RLUSD as a fully limpid and institutionally trustworthy stablecoin, backed 1:1 by the US dollar.
Ripple also shared that Ripple Prime, GTSkarband Rail are now part of a unified initiative to leverage XRP and RLUSD for faster, more competent and compliant settlements around the world. The company added that this integrated system will play a key role in driving the next phase of growth in global finance.
Featured image from Pxfuel, chart from Tradingview.com
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