Ripple does not view the current crypto winter as a retreat by institutional investors, but rather as a transition toward a less speculative market. In an interview with Markets Media, Michael Higgins, International CEO of Ripple Prime, explained that 24/7 markets are increasingly putting pressure on traditional banking processes. He believes Ripple is well positioned to benefit.
Ripple acquired Hidden Road in October 2025 for $1.25 billion and subsequently rebranded the company as Ripple Prime. Since then, revenue has tripled year over year. Ripple Prime now processes more than $3 trillion in annual transaction volume for over 300 institutional clients.
According to Higgins, this growth is driven by the increasingly sophisticated strategies adopted by institutional clients:
Even in a crypto winter, our business continues to thrive. The direction is clear: institutions continue to employ more sophisticated, less speculative approaches to digital assets, and they need partners such as Ripple Prime that can support these activities in up markets and down.
For Higgins, the current crypto winter is therefore "not a winter for digital assets." He expects traditional financial markets and crypto markets to converge over the long term, with securities and other financial instruments becoming increasingly tokenized.
Related: Ripple unveils new XRP lending protocol
Higgins sees collateral management as one of the key differentiators. In traditional markets, clients must deposit sufficient U.S. dollars before the weekend because bank payment systems are unavailable. Stablecoins, by contrast, allow margin requirements to be topped up at any time:
"As of now, funding is needed on Friday to support what clients will do over the weekend. If the next step is GENIUS Act-compliant stablecoins, RLUSD is likely to be in the mix."
According to Higgins, some derivatives clients already hold their balances in RLUSD. Stablecoins are also receiving a boost from extended trading hours: since May 29, 2026, the CME Group has offered regulated crypto futures and options trading around the clock.
Higgins expects established banks to adapt their infrastructure to support 24/7 trading, while arguing that Ripple Prime already has a significant advantage:
"In a world where markets move 24/7, bank prime brokers will need to upgrade their technology and shift to a follow-the-sun staffing model, and that is going to take time. We are purpose-built for this environment. This enables us to move quickly and integrate and capitalize on market innovations faster than incumbent prime broker."
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