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Ripple expects to exit 2026 with a $900 million annualized product revenue run rate, driven by growth across payments, custody, stablecoins, prime brokerage and treasury. The company says customers and partners using multiple Ripple products have tripled this year. Its payments network is expected to approach $150 billion in lifetime volume by year-end, while RLUSD has reached a $2.6 billion market capitalization.
Why it matters
Ripple is building beyond payments into services for financial institutions, including custody, trading and tokenized assets. The Office of the Comptroller of the Currency gave the firm final approval to establish a national trust bank. Ripple also expanded its BNY partnership on tokenized trade finance using the XRP Ledger.
Institutional activity is extending across the platform. Aviva Investors launched a tokenized share class of its £22 billion sterling liquidity fund on XRPL, investing £50 million ($66.7 million) in the share class. Brevan Howard expanded its relationship with Ripple to include prime brokerage, clearing and financing. Ripple Prime added swaps referencing more than 100 markets, with 24/7 trading and settlement, and institutional clients can use RLUSD as collateral.
Market impact
The revenue target signals Ripple’s ambition to turn institutional adoption across multiple products into a larger business. But that growth has not translated into equivalent strength for XRP: the token remains down nearly 30% this year, with an $83 billion market capitalization.
Spot XRP ETF volumes have risen in recent months, though they remain far below BTC, ETH and SOL ETF volumes. XRP funds had around $1.5 billion in total net assets as of Oct. 26.
Frequently asked questions
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What businesses does Ripple expect to drive its $900 million run rate?
Ripple cites growth across payments, custody, stablecoins, prime brokerage and treasury as drivers of the expected run rate.
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What institutional developments are expanding Ripple’s business?
Ripple received final OCC approval to establish a national trust bank and expanded its BNY partnership on tokenized trade finance using the XRP Ledger.
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How are Aviva Investors and Brevan Howard using Ripple’s platform?
Aviva launched a tokenized share class on XRPL and invested £50 million ($66.7 million). Brevan Howard expanded its Ripple relationship to include prime brokerage, clearing and financing.
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What services did Ripple Prime add, and how can clients use RLUSD?
Ripple Prime added swaps referencing more than 100 markets, with 24/7 trading and settlement. Institutional clients can use RLUSD as collateral.
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How does XRP’s market performance compare with Ripple’s business expansion?
XRP remains down nearly 30% this year. Spot XRP ETF volumes have increased but remain below BTC, ETH and SOL ETF volumes; XRP funds had around $1.5 billion in net assets as of Oct. 26.
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