Blockchain payments company Ripple has expanded its services to include digital asset spot prime brokerage for the US markets, some seven months after announcing plans to go public.
In a notice on Monday, Ripple said That US-based clients can conduct over-the-counter (OTC) spot transactions in many cryptocurrencies. The launch of the service followed Ripple’s Getting a crypto-friendly prime broker hidden road As part of a $1.25 billion deal disclosed in April and Finished in October.
“The launch of OTC spot execution capabilities complements our existing OTC suite and removes derivatives services in digital assets and positions us to provide institutions with a comprehensive offering to suit their trading strategies and needs,” said Michael Higgins, International CEO of Ripple Prime and former Hidden Road Executive.
Taking the hidden road, Ripple can effectively act as a multi-asset prime broker for crypto traders, offering cross-margin OTC transactions and holdings, as well as OTC swaps and CME futures and options. The expression of expansion came as Ripple ready to host Its annual swell conference in New York City.
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According to data from Nansen, the price of XRP (XRP) fell By about 5% in the last 24 hours, from $2.50 to $2.37 at the time of publication.
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Ripple is still a player in US politics, policy
Some Ripple executives, including CEO Brad Garlinghouse, have developed close ties in the current White House.
In October, a representative of Ripple Attend a White House fundraising event For a 90,000-square-foot ballroom proposed by US President Donald Trump in July. The project, now estimated to cost $350 million, according to Trump, resulted in demolition of the historic East Wing of the White House.
The Company also supported the Political Action Committee (PAC) Fairshake, likely at least partially responsible for helping elect dozens of candidates deemed favorable to crypto policies in the 2024 US election.
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