Ripple launches digital asset spot prime brokerage for US market

Ripple has introduced its Digital Asset Spot Prime Brokerage service specifically for institutional clients based in the US, utilizing a newly established prime brokerage platform to facilitate Over-The-Counter (OTC) spot transactions. This service integrates both XRP and Ripple's stablecoin, RLUSD, to enhance liquidity and institutional trading capabilities within the US market. The launch follows Ripple's acquisition of Hidden Road, which has been rebranded as Ripple Prime, positioning it as the first crypto-owned global multi-asset prime brokerage. Furthermore, the platform boosts RLUSD's utility by allowing it to be used as collateral in cross-margin trading between traditional finance and crypto ecosystems.

(Source：Crypto Briefing)