XRP-Linked Ripple Is Earning Fees Financing Leveraged Stock Bets, a Business Long Run by Banks
8 Articles
8 Articles
XRP-linked Ripple is earning fees financing leveraged stock bets, a business long run by banks
The crypto company's $1.25 billion acquisition of Hidden Road has opened a corner of Wall Street where funds pay to amplify daily moves in stocks such as Nvidia and Sandisk.
Ripple's $1.25B Hidden Road Deal Opens Leveraged Stock Bet Financing
TL;DR Ripple Prime has begun financing leveraged ETFs that allow investors to multiply the daily movements of stocks and market indexes. Ripple’s $1.25 billion acquisition of Hidden Road allowed the company to enter a market traditionally dominated by major banks. The U.S. market has 593 leveraged ETFs managing more than $256 billion, according to Morningstar Direct data. Ripple has expanded its financial operations into the leveraged exchange…
CriptoTendencia Ripple Prime finances ETF leveraged from Nvidia and Sandisk and charges commissions for prime brokerage, a business that was bank land. Ripple entry already charges as a Wall Street bank, although the business does not pass through XRP was first published in CriptoTendencia.
Crypto Briefing
Cryptocurrency News | Cryptocurrency Prices | Market CapRipple now earns prime brokerage fees after $1.25 billion Hidden Road deal
Ripple's expansion into prime brokerage could significantly bridge traditional finance and crypto, enhancing liquidity and market integration.
XRP (XRP) Price: Ripple Takes On Banks in $256 Billion Leveraged ETF Market
TLDR Ripple Prime now provides swap financing to leveraged ETFs, a business long handled by big banks. The Tradr 2X Long SNDK Daily ETF pays Ripple the overnight bank funding rate plus 4 percentage points. XRP traded near $1.40, down more than 5% in the past 24 hours. Ripple built its brokerage through the $1.25 [...]
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