Ripple Prime, Ripple’s institutional prime brokerage platform, has received an investment-grade issuer rating, according to the firm.
Kroll Bond Rating Agency (KBRA) has assigned an issuer rating of BBB to Ripple Prime CIV US BD HoldCo LLC.
Ripple Prime is an SEC-registered broker-dealer, CFTC-registered futures commission merchant (FCM), a member of FINRA and SIPC, a clearing member of CME Group exchanges, and a member of the FICC Government Securities Division.
Ripple reports that it maintains a capital position of nearly $5.0 billion in cash as of Q3 of 2025, in addition to XRP holdings of over 40 billion units in the same quarter.
The rating for Ripple Prime is said to recognize that its business model is in a scaling phase, focused primarily on clearing and intermediation services within its exchange-traded derivatives (ETD) platform, as well as similar activities within fixed income repo, which reached meaningful scale in 2025 and are centered on short-duration U.S. Treasuries and agency securities.