Meeting the growing appetite of US investors for up-to-date cryptocurrency solutions, blockchain payments company Ripple announced on Monday morning the launch of its prime brokerage services for digital assets in the US market.
This up-to-date offering enables US-based institutional clients to place over-the-counter (OTC) spot trades on a wide range of digital assets – including XRP and the dollar-pegged cryptocurrency RLUSD.
Recent Ripple brokerage services for US institutions
According to Ripple announcementthe premiere follows the Hidden Road takeover. Combining its regulatory licenses with Hidden Road’s capabilities, Ripple created Ripple Prime, which provides institutions with seamless access to foreign exchange (FX), digital assets, derivatives, swaps and fixed income products.
This acquisition is seen as a strategic move to facilitate the institutional adoption of digital assets, especially in featherlight of a more favorable regulatory environment under the recent Trump administration.
Moreover, RLUSD gained regulatory compliance under the newly passed stablecoin law, known as the GENIUS Act, which was signed into law by President Trump earlier this year.
This alignment is expected to boost institutional trust and enable further integration of RLUSD classic financial operations. Michael Higgins, International CEO of Ripple Prime, commented on the launch, stating:
The introduction of OTC spot trading complements our existing suite of OTC and cleared derivatives services for digital assets and allows us to provide U.S. institutions with a comprehensive offering tailored to their trading strategies and needs.
With this up-to-date feature, US Ripple Prime customers can now cross-link their spot trades and OTC investments with broader digital asset portfolios, including OTC swaps and Chicago-Mercantile Exchange (CME) futures and options.
In addition to these changes, Ripple is actively seeking approval for its domestic banking license in the United States. This initiative puts Ripple alongside other companies such as Circle (CRCL), Coinbase (COIN), Sony Bank, Paxos and Crypto.com (CRO).
Spot XRP ETFs expected soon
When it comes to ETFs, market expert Nate Geraci, co-founder of the ETF Institute, said forecast The first XRP spot ETF funds will be launched on the X social networking site (formerly Twitter) in the next two weeks.
This follows a five-year period of litigation between the SEC and Ripple, which ended just three months ago. Geraci believes that the launch of spot XRP ETFs could mark a major turning point, potentially marking the end of previous anti-crypto regulatory attitudes.
Especially, eight XRP ETFs have already been registered with the Depository Trust & Clearing Corporation (DTCC), indicating that these funds have entered the DTCC operational pipeline and are being actively processed for potential trading.
At the time of writing, XRP is trading at $2.41, down 4.5% over the last 24 hours and over 8% on a weekly basis.
Featured image from DALL-E, chart from TradingView.com
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