Ripple’s TradFi Ambitions Grow with Wall Street Financing and Korea Deal

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This affects leveraged ETF issuers and the institutions that provide them financing, because Ripple Prime is now in that workflow and the business is being described as a competitor to banks and securities firms. Tomorrow morning, firms that trade or lend around these products will see Ripple as a new counterparty in the same market.

Before this, the financing and swap business around leveraged ETFs was tied to banks and securities firms; now Ripple Prime is named as a provider in that space, and its platform also offers exposure to U.S.-listed equities, indices, and digital assets. What stays the same is that the products still use swap structures and still reference stocks and indexes, even as the provider set changes.