Ripple has published a new institutional whitepaper, The Blueprint for Institutional Digital Asset Trading, laying out how banks and funds could trade digital assets under a more centralized operating model. The document argues that the current market structure is fragmented by design: institutions often have to open accounts across several exchanges, move capital between venues, and manage separate credit arrangements at the same time.
In Ripple’s view, that setup creates operational pressure and larger counterparty exposure. The paper points to past exchange collapses, including FTX, as examples of concentrated risk. If one platform fails, assets can be frozen and trading activity can be disrupted in ways that spread across the workflow quickly.
A single prime broker as the control point
Ripple’s answer is a Digital Prime Broker, or DPB, framework. Under that structure, one prime broker would handle execution, liquidity access, and credit management rather than leaving institutions to manage those links venue by venue. The paper frames this as a structural fix, not a pitch for broader market expansion.
One of the key mechanics is end-of-day netting across venues. Ripple says this would reduce the amount of capital institutions need to pre-fund and limit direct exposure to multiple counterparties. Liquidity would be aggregated inside one system, while credit monitoring would also sit in the same operational layer. That changes how institutions manage positions. It also reduces settlement friction, according to the paper.
XRP Ledger proposed for credit lines and settlement
Ripple then places the XRP Ledger inside that DPB model as the settlement rail. The whitepaper says the ledger could support on-chain credit lines, faster settlement cycles, and earlier netting. The goal is not only speed. Ripple also argues that a blockchain-based process would make transaction flows more transparent and allow institutions to monitor exposure in near real time.
The paper adds that operational overhead could fall compared with legacy settlement systems. Its focus stays on market structure and post-trade design rather than token price or adoption claims.
Separately, Ripple CEO Brad Garlinghouse has said the company aims to work alongside banks. The article also notes that Ripple has partnered with Aviva Investors on fund structures that use the XRP Ledger.