"Ripple Prime's acquisition of an institutional brokerage for $1.25 billion allows institutions to access gold, silver, and oil perpetuals through Hyperliquid, a decentralized exchange with $1.74 billion in open interest. This move marks Ripple's entry into the commodities market, potentially increasing the demand for XRP as commodity trading settles on the XRP Ledger."
"Hyperliquid became the only venue pricing oil in real time during the weekend following the oil price surge, with its oil contract reaching $1.7 billion in peak daily volume driven by non-crypto traders. This highlights the critical infrastructure Ripple Prime is leveraging for commodity trading."
"With Ripple Prime's integration of HIP-3 symbols, institutions can now trade gold, silver, and oil through a single prime brokerage, simplifying the trading process and allowing for a unified margin framework and counterparty."
Ripple has ventured into commodities by acquiring an institutional brokerage, enabling access to gold, silver, and oil trading through Hyperliquid. This decentralized exchange has significant open interest and plans to integrate post-trade settlement onto the XRP Ledger. This integration could create functional demand for XRP linked to commodity trades. Ripple Prime's expansion allows institutions to trade these commodities seamlessly, addressing the need for real-time trading during market closures, particularly highlighted during recent oil price fluctuations.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]