Ripple now earns prime brokerage fees on leveraged equity trades through Ripple Prime, the entity formed from the $1.25 billion Hidden Road acquisition. This unit finances leveraged equity products using total return swaps, with rates set at OBFR plus 4%, or approximately 8% annualized. The US market contains 593 leveraged ETFs representing over $256 billion in assets under management. Ripple Prime processes over $3 trillion in annual clearing volume, serves more than 300 institutional clients, and held over $1 billion in regulatory capital as of late 2026. Ripple’s stablecoin RLUSD is being used as collateral within this business.
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