Ripple Explains How Its New Prime Brokerage Will Expand RLUSD Adoption and Utility

Ripple has rebranded the acquired global prime broker Hidden Road as Ripple Prime, presenting it as an all-in-one service for institutional trading, financing, and clearing. Since the acquisition, Ripple Prime's business has tripled, now serving over 300 institutional clients and facilitating more than $3 trillion in cleared transactions. The service encompasses various financial activities, including digital assets and derivatives, and aims to reduce friction within the trading process by providing a centralized platform for clients. Ripple's CEO Brad Garlinghouse highlighted this moment as critical for digital asset adoption. Ripple Prime intends to enhance the use of RLUSD, Ripple's U.S. dollar stablecoin, as certain derivative clients already utilize it as collateral. The success of this initiative will depend on market demand and Ripple Prime’s performance against traditional prime brokers.

Source 🔗