Ripple Launches Institutional OTC Service as RLUSD Passes $1 Billion
Ripple launched its institutional OTC service, Ripple Prime, coinciding with its stablecoin RLUSD surpassing $1 billion in market cap.Summary
Ripple Labs has launched Ripple Prime, a US spot prime brokerage service enabling institutional clients to execute over-the-counter (OTC) spot trades for major digital assets like XRP and RLUSD. This follows Ripple's recent $1.25 billion acquisition of Hidden Road, which now operates as Ripple Prime, offering expanded capabilities such as cross-margining and financing options beyond simple OTC trading. The launch coincides with Ripple's USD-pegged stablecoin, RLUSD, crossing a $1 billion market capitalization milestone, indicating growing institutional interest. However, the article notes concerns that this aggressive institutional pivot, including acquisitions like Hidden Road and GTreasury, might sideline XRP, potentially reducing its operational role within Ripple's expanding financial services portfolio, despite Ripple's vision for XRP as a global bridge currency.
(Source：BeInCrypto)