Ripple Prime said it is building what it describes as a blockchain-based “Wall Street 2.0” infrastructure as trading shifts toward a 24/7 model. Michael Higgins, the company’s international chief executive officer, said the firm uses its acquisition of Hidden Road and the RLUSD stablecoin to offer around-the-clock collateral management for institutional clients. The company added that revenue has tripled year over year since its October acquisition of Hidden Road. It also recently secured $200 million in debt financing, which it said will be used to expand its institutional margin financing capacity. Ripple Prime said its technology stack can connect digital asset platforms, foreign exchange liquidity pools, and traditional exchanges through a unified setup, which it described as more adaptable than the model used by traditional investment banks. The update was carried by Techub News and attributed to U.Today.
Ripple Prime said it is pushing ahead with a blockchain-based “Wall Street 2.0” infrastructure buildout as markets move toward 24/7 trading.
Michael Higgins, the company’s international chief executive officer, said Ripple Prime uses its acquisition of Hidden Road and the RLUSD stablecoin to provide round-the-clock collateral management for institutional clients.
The company said its revenue has tripled year over year since acquiring Hidden Road in October last year. It also recently raised $200 million in debt financing to increase its institutional margin financing capacity.
Ripple Prime added that its technology stack can connect digital asset platforms, FX liquidity pools, and traditional exchanges in a unified way, which it said makes it more adaptable than traditional investment banks.
Techub News carried the item, citing U.Today.
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