Ripple Prime joins DTCC tokenization initiative with BlackRock and JPMorgan

Ripple Prime, the institutional brokerage unit of Ripple, has joined a working group led by the Depository Trust & Clearing Corporation (DTCC) to develop infrastructure for tokenized securities. The initiative includes major financial institutions such as BlackRock, JPMorgan, Goldman Sachs, Circle, and Robinhood.

The collaboration focuses on the operational requirements for bringing traditional financial assets, including equities, exchange-traded funds (ETFs), and U.S. government securities, onto blockchain networks. The goal is to enable these assets to function within digital markets while maintaining existing ownership rights and investor protections.

While Ripple Prime is participating in the group, it remains unclear if the DTCC will utilize the XRP Ledger or XRP for settlement. The DTCC's subsidiary, the Depository Trust Company, currently provides custody and asset servicing for more than $114 trillion in securities. The initiative follows Ripple's $1.25 billion acquisition of the institutional brokerage Hidden Road.