Exchanges· ★★★★· bullish·

Ripple starts earning prime brokerage fees after $1.25B Hidden Road deal

  • —Ripple Prime finances leveraged ETFs via total return swaps at OBFR plus 4%, about 8% annualized
  • —The US leveraged ETF market has 593 funds with over $256 billion in assets under management
  • —Ripple Prime serves more than 300 institutional clients and clears over $3 trillion annually
  • —RLUSD stablecoin is used as collateral, with some post-trade activity planned to move to the XRP Ledger
Why it matters: A crypto firm has entered Wall Street prime brokerage for the first time, expanding Ripple's institutional footprint beyond digital assets.
#XRP
Source: Crypto Briefing
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