With a new range of products for the institutional market, Ripple is putting in place the means to trade real-world assets on a 24/7 basis. The package covers round-the-clock trading and the incorporation of its RLUSD stablecoin in banking, not to mention an effort to accelerate cross-border payments and reward offerings.
Ripple Prime Debuts 24/7 Asset Trading
As of October 15th, Ripple Prime gives its institutional clientele the ability to make perpetual swaps on real-world assets at any hour. In a recent CryptoWendyO broadcast, it was noted that this opens up more than 100 markets to institutions, whether in stocks, ETFs, equity indices, or commodities like gold, oil, and metals, as well as currencies. This is how to be a progressive force in institutional trading for real-world assets: by not being confined to the hours of the traditional market.
RLUSD Stablecoin Integrated Into Banking Systems
Then there is the matter of Ripple’s tie-up with Cross River Bank, a partnership of some consequence. It has seen the bank’s core payment infrastructure become home to Ripple’s RLUSD stablecoin, affording institutional clients smooth treasury transfers and cross-border payments day or night. On the XRP Ledger, RLUSD will settle in a matter of three to five seconds; the stablecoin already has a market cap of about $2.5 billion. The CryptoWendyO channel sees the embedding of RLUSD in the traditional banking world as a step forward for crypto solutions in the institutional sphere.
Institutional Adoption and Ecosystem Growth
Ripple’s hand in building out its ecosystem and the yield to be had from it was put on display when CEO Brad Garlinghouse rang the NASDAQ closing bell for Evernorth, a public firm with a sizable XRP treasury. For its part, Evernorth is putting together new XRP investment and reward products in order to enhance the token and drive adoption.
All told, the suite of institutional offerings from Ripple – payments, derivatives, prime brokerage, and rewards – are centered on Ripple, XRP, and RLUSD. One could take these moves as evidence of what the company wants: to be at the heart of real-world asset trading for institutions and to connect blockchain with traditional finance, as was discussed in the latest CryptoWendyO episode.
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