Important points
- Ripple has launched spot prime brokerage of digital assets for US-based institutional customers.
- The service enables OTC spot trading via Ripple’s new prime brokerage platform.
Ripple today launched Digital Asset Spot Prime Brokerage, enabling OTC spot trading for US-based institutional clients through its newly established Prime Brokerage platform.
The service will integrate XRP and Ripple’s stablecoin, RLUSD, to facilitate institutional trading and provide liquidity for digital asset trading in the US market.
Ripple has completed its acquisition of Hidden Road, rebranded as Ripple Prime, establishing what the company says is the first global, crypto-owned, multi-asset prime brokerage for institutional investors.
The platform increases the utility of RLUSD by enabling its use in cross-margin trading between the traditional financial and cryptocurrency ecosystems. RLUSD serves as collateral for institutional trading activities within the framework of prime brokerage.
