Ripple Prime Joins BlackRock, JPMorgan, HSBC in DTCC Tokenization Pilot

• Ripple Prime is among more than 50 companies working with the DTCC on a pilot to tokenize $114 trillion in assets that the organization custodies.
• It joins industry heavyweights like JPMorgan, HSBC, BNP Paribas and UBS, as well as crypto firms like Fireblocks, Canton Network and Circle.

Ripple Prime, the institutional prime brokerage arm of the digital asset company, is among the companies selected by the Depository Trust & Clearing Corporation (DTCC) to participate in its tokenization pilot.

DTCC announced that the pilot plans to deliver the first working version of tokenized real-world assets in July this year, with the full service expected to launch in October.

Ripple Prime joins some of the world’s largest financial firms, from lenders and custodians to asset managers and trading venues. They include JPMorgan, the Bank of America, Citadel Securities, Invesco, HSBC, Charles Schwab, BlackRock, Nasdaq, NYSE, Robinhood and Wells Fargo.

From the digital assets sector, Ripple Prime will be joined by USDC issuer Circle, digital asset infrastructure firm Fireblocks, tokenization leader Ondo Finance, exchanges Kraken and Backpack, and Digital Asset, the creator of Canton Network, the leading tokenization blockchain on Wall Street, as ETHNews has previously reported.

Tokenizing $110 Trillion in Assets

The DTCC pilot aims to tokenize the assets that the post-market services provider custodies, enabling them to move easily across chains. DTCC is the world’s largest market infrastructure firm; last year, it processed $4.7 quadrillion in securities transactions. It currently custodies over $110 trillion.

By creating tokenized representations of the assets it custodies, DTCC will give the tokens the same legal rights as the original assets. As DTCC President Brian Steele notes, the project “is designed to provide systemic scale where deep liquidity already lives.”

The project has been made possible by a No-Action letter received from the SEC last December. As we reported, the letter stated that the regulator would not take any action against DTCC for tokenizing the assets for three years. However, the scope is limited to constituents of the Russell 1000 stocks and select ETFs.

Nadine Chakar, the head of digital assets at DTCC, commented:

Ripple Prime Cements its Position 

For Ripple Prime, being among a select group of participants that the DTCC will be relying on for what could be the world’s largest tokenization project is a massive achievement.

Ripple Prime was formed after the company acquired prime broker Hidden Road in 2025, as we reported. Since then, it has expanded rapidly, tripling in size and becoming profitable. It has partnered with Bullish to offer its clients direct access to the exchange and integrated Hyperliquid to grant access to on-chain perpetual liquidity. It recently won the award for best prime broker at the Hedge Fund Services Awards.

But despite Ripple Prime’s exploits, XRP has yet to reap the benefits. The token has remained sidelined, with the platform processing its transactions in RLUSD, the Ripple stablecoin.

XRP is trading at $1.4, trading sideways over the past week for an $86.7 billion market cap.

The post Ripple Prime Joins BlackRock, JPMorgan, HSBC in DTCC Tokenization Pilot appeared first on ETHNews.