What to Know:
- Ripple expands its services, now offering digital asset spot prime brokerage for U.S. markets.
- The move follows Ripple’s acquisition of Hidden Road, enhancing its capabilities in OTC transactions and derivatives.
- Ripple remains active in U.S. politics and policy, with executives maintaining ties to the White House and supporting crypto-friendly political action committees.
Ripple is expanding its services to include digital asset spot prime brokerage for U.S. markets, marking a significant move following its acquisition of Hidden Road. This expansion allows U.S.-based institutional clients to execute over-the-counter (OTC) spot transactions across multiple cryptocurrencies, enhancing Ripple’s suite of services. The launch positions Ripple to offer U.S. institutions a comprehensive suite of tools tailored to their trading strategies.
With the acquisition of Hidden Road, Ripple can effectively act as a multi-asset prime broker for crypto traders. This allows for cross-margin OTC spot transactions and holdings, as well as OTC swaps and CME futures and options. The expansion announcement coincided with Ripple’s annual Swell conference in New York City.
Ripple’s strategic moves come amid evolving regulatory landscapes and increasing institutional interest in crypto. As the market anticipates potential approvals of Bitcoin ETFs and clearer regulatory frameworks, Ripple’s expansion positions it to capitalize on increased adoption. The company’s commitment to providing comprehensive services aligns with the growing demand for sophisticated trading solutions in the digital asset space.
Ripple remains engaged in U.S. politics and policy, with executives maintaining connections to the White House. The company has also supported Fairshake, a political action committee, which aims to elect candidates favorable to crypto policies. This involvement underscores Ripple’s commitment to shaping the regulatory environment and fostering a supportive ecosystem for digital assets.
Ripple’s expansion into digital asset spot prime brokerage reflects its ongoing commitment to innovation and growth within the crypto industry. By enhancing its service offerings and engaging in policy discussions, Ripple aims to solidify its position as a key player in the evolving digital asset landscape.
Source: Original article
