Citadel and Schwab just plugged into XRP via Ripple Prime
XRP company Ripple Prime has integrated with EDX, an institutional exchange backed by Citadel Securities and Schwab.
Ripple just connected its prime brokerage to an institution-only crypto exchange that Citadel Securities, Charles Schwab, Fidelity Digital Assets, and Virtu built.
That is a list of Wall Street’s most powerful trading firms linking their trading desks directly into Ripple Prime, with RLUSD on the XRP Ledger lined up to become the collateral that moves their trades.
The rails just clicked in place.
Within the last 24 hours, Ripple Prime has integrated with EDX Markets and EDXM International, which if you’re like anyone in the world outside of financial mega-institutions, you should have never heard of.
EDX is a trading venue for institutions only, no retail investors allowed. EDXM International is its perpetual futures exchange.
Both are backed by Citadel Securities, Charles Schwab, Fidelity Digital Assets, Virtu Financial, Sequoia Capital, and others.
Read that list again. That is the cap table of EDX that just integrated with Ripple Prime.
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XRP Premium Analysis
The press release discussed the “integration of Ripple USD (RLUSD), Ripple’s US dollar-backed stablecoin, as a settlement and collateral asset on EDX.”
In essence, the XRP fee-burning stablecoin RLUSD is queued to become the margin asset on the exchange that Citadel and Schwab capitalized.
The CEO of EDX Markets said it himself. “Institutions are demanding market infrastructure that combines the operational rigor of traditional finance with the innovation and efficiency of digital assets.” Michael Higgins, the International CEO of Ripple Prime, added that EDX “delivers the performance, reliability, and depth that our clients expect”…