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- Ripple Prime revolutionizes institutional digital asset management with Ripple’s acquisition.
- XRP and RLUSD will play key roles in Ripple Prime’s offerings.
- Ripple invests in blockchain research through renewed academic partnerships.
SBI Holdings CEO Yoshitaka Kitao has shown strong support for Ripple’s recent acquisition of Hidden Road, now rebranded as Ripple Prime. The deal marks a significant step in Ripple’s efforts to drive institutional adoption of digital assets, such as XRP and RLUSD. Kitao celebrated the purchase, which he described as a logical step towards bringing prime brokerage services into the digital age.
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Ripple Prime To Transform Institutional Digital Asset Solutions.
The new platform, developed as a result of the acquisition, is Ripple Prime, which is planned to provide a comprehensive set of services. These include payments, crypto custody, and stablecoin solutions, targeting institutional clients. Through its integration with Ripple’s existing infrastructure, Ripple Prime aims to enhance the efficiency of managing digital assets for financial institutions. The platform will be based on XRP and RLUSD, with the latter already serving as collateral for prime brokerage products.
This will further enhance Ripple’s presence in the institutional market. Ripple Prime’s specialization in non-bank prime brokerage services is a response to a growing trend in the industry. The services provided by the platform will help Ripple expand its coverage to meet the ever-increasing demand for institutional-scale solutions for digital assets. The future of digital asset management is shaped through the incorporation of blockchain technology by Ripple into the traditional financial services system.
Ripple Invests in Blockchain Research Using Academic Partnerships.
Acquisitions are not the only way Ripple is committed to blockchain. The company has re-invested in academic relationships through the University Blockchain Research Initiative (UBRI), which has transformed it to spend more than $1.5 million in Ripple USD (RLUSD) to finance research projects. The investment is a testament to Ripple’s value of academic cooperation and its commitment to advancing blockchain technology. The leaders of the industry, such as David Schwartz, co-creator of the XRP Ledger, will be active participants in these endeavors.
The acquisition of Hidden Road is a significant milestone in Ripple’s continued growth. It marks an inaugural time in digital asset adoption and management, further entrenching Ripple as a leader in the digital asset space.
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