Key Takeaways
- Ripple launched a digital asset spot prime brokerage for US-based institutional purchasers.
- The service allows OTC spot transactions by way of Ripple’s new prime brokerage platform.
Ripple at present launched its Digital Asset Spot Prime Brokerage, enabling OTC spot transactions for US-based institutional purchasers via its newly established prime brokerage platform.
The service integrates XRP and RLUSD, Ripple’s stablecoin, to facilitate institutional buying and selling and supply liquidity for digital asset transactions within the US market.
Ripple accomplished its acquisition of Hidden Street and rebranded it as Ripple Prime, establishing what the corporate describes as the primary crypto-owned international multi-asset prime brokerage for institutional purchasers.
The platform enhances RLUSD’s utility by enabling its use in cross-margin buying and selling between conventional finance and crypto ecosystems. RLUSD serves as collateral in institutional buying and selling actions inside the prime brokerage framework.
