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$XRP has once again come to the forefront after being cited as an example of a commodity in the guidance document published by the SEC and CFTC, while important statements have come from the CEO of Ripple Prime.
In an interview with Jake Claver of Digital Ascension Group, Ripple Prime CEO Mike Higgins stated that $XRP could be used as institutional collateral.
Ripple Prime’s CEO stated that $XRP is being used as collateral for institutional transactions. According to Higgins, institutions are now actively using $XRP as collateral to access traditional financial markets.
This statement comes after community criticism that Ripple, following its acquisition of Hidden Road, was prioritizing its own native stablecoin RLUSD over $XRP.
Higgins explained that Ripple Prime accepts $XRP not only as a means of payment but also as collateral.
The CEO emphasized that “$XRP plays a key role,” stating, “It supports institutions in borrowing funds and conducting transactions based on $XRP held as collateral.”
At this point, Higgins added that institutional investors could provide liquidity without selling $XRP, thus expanding $XRP’s use cases.
Ripple announced it will add Hyperliquid (HYPE) to Ripple Prime, its primary brokerage platform for institutional investors.
*This is not investment advice.