Ripple Prime is now among more than 50 leading financial firms collaborating with the Depository Trust & Clearing Corporation (DTCC) to develop the infrastructure for tokenized securities. This initiative, which also includes industry giants such as BlackRock, JPMorgan, and Goldman Sachs, reflects Wall Street’s growing interest in blockchain-powered financial markets.
Partnership with Major Institutions
DTCC, the world’s largest post-trade financial services company overseeing clearing and settlement in US markets, announced its working group in May. This consortium includes banks, asset managers, exchanges, custodians, and blockchain technology providers such as Circle and Robinhood, in addition to Ripple Prime.
Together, these participants are addressing the technical and regulatory demands involved in moving traditional assets—like equities, exchange-traded funds (ETFs), and US government securities—onto blockchain-based platforms. These efforts intend to retain existing legal frameworks and investor protections while boosting efficiency through tokenization.
The project builds on Ripple Prime’s broader institutional ambitions, which expanded after Ripple’s acquisition of the brokerage platform Hidden Road for $1.25 billion. This move positioned Ripple Prime more prominently among major Wall Street clearing and trading entities.
DTCC’s key subsidiary, the Depository Trust Company, manages the custody and servicing of more than $114 trillion in securities. This figure represents assets within the conventional financial system, not those currently transferred to blockchains.
Advancing Asset Tokenization
The tokenization efforts led by DTCC seek to enable traditional securities to function within digital markets, allowing institutions to access blockchain benefits without forfeiting established legal protections.
Production transactions for tokenized assets began in July, involving tokenized US Treasuries, equities, and other instruments. Over 30 financial organizations took part in these transactions, which included activities such as securities lending, movement of collateral, repurchase agreements, and equity settlement.
DTCC reported that these transactions utilized the Canton Network—a privacy-enabled blockchain protocol for institutional use—and Ledger Fleaux Distributed Trust’s (LFDT) Besu infrastructure.
Mini dictionary: Canton Network, an interoperable blockchain protocol designed for institutional applications, focuses on privacy and compliance, enabling various financial institutions to interact securely and efficiently on shared digital infrastructure.
Clarification on Ripple Prime’s Role and Technology
Ripple Prime’s participation in the group does not indicate that DTCC has selected the XRP Ledger or XRP token for settlement in its tokenized securities initiative. The July transactions did not explicitly involve Ripple Prime as an executing party nor rely on XRP or its proprietary blockchain.
The participation of financial institutions in this working group does not establish any guarantee that their proprietary technologies or assets will be used in DTCC’s production processes, highlighting the group’s multichain approach and ongoing exploration.
DTCC also identified the Stellar blockchain as a potential public network for future integrations, with tokenized assets expected to be accessible via Stellar in the first half of 2027. This further underlines DTCC’s strategy of exploring multiple blockchain platforms rather than leaning exclusively on a single network or protocol.
Mini dictionary: Stellar is an open-source blockchain protocol designed for cross-border payments and asset tokenization, developed to provide low-cost and fast transactions between financial institutions.
